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Lazard Riding High on Strong Fundamentals: Time to Buy?
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On Mar 15, we issued an updated research report on Lazard Ltd. (LAZ - Free Report) . The company has shown decent progress in terms of inorganic expansion and cost containment in 2016. However, its significant dependence on global markets remains a headwind.
Riding on strong fundamentals, shares of Lazard gained 26.2% in the last six months, outperforming the 12.4% gain for the Zacks categorized Major Financial- Investment Management industry.
While the company’s earnings estimates have remained stable for the current year over the last 30 days, it carries a Zacks Rank #2 (Buy).
Lazard is well poised to grow organically through its Financial Advisory and Asset Management segments and through its various strategic efforts undertaken in 2016. Further, its cost reduction initiatives have resulted in a 23% drop in the operating expenses in 2016. These initiatives are expected to significantly improve the company’s profitability going forward.
Moreover, Lazard’s impressive investment strategies have provided a significant boost to its assets under management in 2016. This trend is expected to continue in the quarters ahead supported by the expected improvement in the market.
The company is actively involved in capital deployment activities. In 2016, it declared a 9% hike in the common stock dividend and also authorized an additional share repurchase program of $236 million. Such activities bolster investor’s confidence and reflect company’s capital strength.
However, Lazard’s dependence on revenues from Financial Advisory segment may have an adverse effect on its financials resulting from a decline in advisory engagements. Also, the company’s vast geographical diversification keeps us apprehensive, as any change in the global economic factors will adversely affect its performance.
Lakeland has witnessed an upward earnings estimate revision of 1.9% for the current year in the past 60 days. Also, its share price jumped 104.2%, over the last one year.
Canadian Imperial’s earnings estimates have been revised upward by 7.2% for the current year in the past 30 days. Also, over the last one year, its share price is up 19.4%.
Goldman Sachs has witnessed an upward earnings estimate revision of 2.6% for the current year, in the past 60 days. Its share price has gained 64.5% over the last one-year period.
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Lazard Riding High on Strong Fundamentals: Time to Buy?
On Mar 15, we issued an updated research report on Lazard Ltd. (LAZ - Free Report) . The company has shown decent progress in terms of inorganic expansion and cost containment in 2016. However, its significant dependence on global markets remains a headwind.
Riding on strong fundamentals, shares of Lazard gained 26.2% in the last six months, outperforming the 12.4% gain for the Zacks categorized Major Financial- Investment Management industry.
While the company’s earnings estimates have remained stable for the current year over the last 30 days, it carries a Zacks Rank #2 (Buy).
Lazard is well poised to grow organically through its Financial Advisory and Asset Management segments and through its various strategic efforts undertaken in 2016. Further, its cost reduction initiatives have resulted in a 23% drop in the operating expenses in 2016. These initiatives are expected to significantly improve the company’s profitability going forward.
Moreover, Lazard’s impressive investment strategies have provided a significant boost to its assets under management in 2016. This trend is expected to continue in the quarters ahead supported by the expected improvement in the market.
The company is actively involved in capital deployment activities. In 2016, it declared a 9% hike in the common stock dividend and also authorized an additional share repurchase program of $236 million. Such activities bolster investor’s confidence and reflect company’s capital strength.
However, Lazard’s dependence on revenues from Financial Advisory segment may have an adverse effect on its financials resulting from a decline in advisory engagements. Also, the company’s vast geographical diversification keeps us apprehensive, as any change in the global economic factors will adversely affect its performance.
Some other stocks worth considering in this space include Lakeland Bancorp, Inc. (LBAI - Free Report) , Canadian Imperial Bank of Commerce (CM - Free Report) and The Goldman Sachs Group, Inc. (GS - Free Report) . All these stocks hold a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Lakeland has witnessed an upward earnings estimate revision of 1.9% for the current year in the past 60 days. Also, its share price jumped 104.2%, over the last one year.
Canadian Imperial’s earnings estimates have been revised upward by 7.2% for the current year in the past 30 days. Also, over the last one year, its share price is up 19.4%.
Goldman Sachs has witnessed an upward earnings estimate revision of 2.6% for the current year, in the past 60 days. Its share price has gained 64.5% over the last one-year period.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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