Lazard Ltd Stock: The Ultimate Guide for Investors

Introduction

Lazard Ltd is a leading global financial advisory and asset management firm. The company has a long and distinguished history, dating back to 1848. Today, Lazard has offices in 27 countries around the world and manages over $280 billion in assets.

The company's stock is traded on the New York Stock Exchange (NYSE) under the symbol "LAZ." Lazard stock has performed well in recent years, outperforming the broader market. In 2021, LAZ stock returned 28%, compared to a 27% return for the S&P 500 index.

Lazard's Business

Lazard's business is divided into two main segments:

• Financial Advisory: This segment provides financial advice to corporations, governments, and institutions. Services include mergers and acquisitions, capital raising, and restructuring.
• Asset Management: This segment manages a diversified portfolio of investments for clients. Services include private equity, hedge funds, and mutual funds.

Lazard's Financial Performance

Lazard has a strong financial track record. The company's revenue has grown steadily in recent years, from $2.6 billion in 2016 to $3.4 billion in 2021. Net income has also grown, from $334 million in 2016 to $486 million in 2021.

The company's financial performance is driven by a number of factors, including:

• Strong demand for financial advisory services: Corporations and governments are increasingly seeking advice on mergers and acquisitions, capital raising, and restructuring.
• Growing assets under management: Lazard's asset management business has grown rapidly in recent years, thanks to strong investment performance and increased client demand.
• Cost discipline: Lazard has a history of managing its costs effectively, which has helped to improve profitability.

Lazard's Stock Valuation

Lazard stock is currently trading at around $50 per share. The stock's price-to-earnings (P/E) ratio is 17.5, which is in line with the average P/E ratio for the financial sector.

Lazard's stock is considered to be a good value for a number of reasons:

• Strong financial performance: The company has a long history of strong financial performance, with revenue and net income growing steadily in recent years.
• Growing market share: Lazard is a leading player in the financial advisory and asset management markets, and the company continues to grow its market share.
• Experienced management team: Lazard's management team has a wealth of experience in the financial services industry.
• Strong balance sheet: The company has a strong balance sheet, with plenty of cash on hand and low levels of debt.

Risks to Lazard's Business

Lazard's business is subject to a number of risks, including:

• Competition: Lazard faces competition from a number of other financial advisory and asset management firms.
• Economic downturn: An economic downturn could lead to a decrease in demand for financial advisory and asset management services.
• Regulatory changes: Lazard is subject to a number of regulations, and changes to these regulations could impact the company's business.
• Geopolitical risks: The company's business could be impacted by geopolitical risks, such as war or terrorism.

Conclusion

Lazard Ltd is a leading global financial advisory and asset management firm. The company has a long and distinguished history, a strong financial track record, and a talented management team. Lazard stock is currently trading at a fair value and is considered to be a good investment for long-term investors.

Additional Resources

• Lazard Ltd website
• Lazard Ltd SEC filings
• Lazard Ltd stock chart

Tables

Table 1: Lazard's Financial Performance

Table 2: Lazard's Stock Valuation

Table 3: Lazard's Business Segments

Table 4: Lazard's Global Presence