Lazard Ltd's shares slipped to $38.65, marking a 52‑week low and a near 10% decline over the past week. The move brings the stock's one‑year total return to –23.49%.
In the second quarter of 2026, the firm reported adjusted net revenue of $786 million, a 2% year‑over‑year increase that topped Wall Street's estimate of $744.98 million and Citizens' estimate of $703 million. Adjusted earnings per share came in at $0.12, well below Citizens' forecast of $0.28 and the consensus $0.36.
Citizens reaffirmed its Market Outperform rating on Lazard and kept a price target of $60.
The asset‑management division recorded $7.4 billion of net inflows in the first half of the year, its strongest half‑year performance in almost two decades. Management also noted that the pipeline for 2027 is already more than double the level seen at the same point last year, underscoring progress on its Lazard 2030 plan.
