LAZ

Lazard reported Q3 2026 earnings of $0.36 per share, missing consensus estimates of $0.43 and down from $0.56 year-ago. Revenue of $804.62 million also fell short of expectations.

The stock has underperformed the market by 23% year-to-date and received a Zacks Rank #5 (Strong Sell) rating due to unfavorable estimate revisions. The Financial - Miscellaneous Services industry ranks in the bottom 31% of sectors.

Lazard is projected to report Q3 earnings of $0.43 per share, down 23.2% year-over-year, with revenues expected to reach $836.95 million, up 15.5%. The consensus EPS estimate has been revised downward by 6.8% in the past 30 days.

Asset Management revenue is forecast at $329.99 million (+12.2% YoY), Financial Advisory at $514.44 million (+21.8% YoY), and Corporate at $11.00 million (+34.4% YoY). Lazard holds a Zacks Rank #5 (Strong Sell) rating and is expected to underperform the market.

Lazard is expected to report Q3 2026 earnings of $0.49 per share (down 12.5% YoY) with revenues of $836.95 million (up 15.5% YoY) on October 22. However, the stock carries a negative Earnings ESP of -11.34% and a Zacks Rank #5, making an earnings beat unlikely. The company missed consensus estimates significantly in the last quarter (-71.43% surprise), adding to bearish sentiment.

Lazard (LAZ) reported $285 billion in AUM as of June 2026, up 15% year-over-year, with $7.4 billion in first-half net inflows—its strongest in nearly 20 years. The company is pursuing its goal of doubling firmwide revenue by 2030 through expansion of its Asset Management division, which now accounts for 42.1% of net revenue. Key growth drivers include the Lazard Advantage quantitative platform reaching $50 billion AUM, active ETF expansion, and strategic acquisitions including a controlling stake in Elaia Partners and the planned acquisition of Campbell Lutyens.

Franklin Templeton (BEN) and Lazard (LAZ) are compared as investment options. BEN shows stronger earnings growth outlook with positive estimate revisions, record $1.8 trillion AUM, and strategic expansion into alternatives and digital assets.

LAZ recorded strong net inflows of $7.4 billion in H1 2026 but faces downward earnings estimate revisions. BEN trades at a lower valuation (1.3X P/B) compared to LAZ (4.4X P/B), though LAZ offers a higher dividend yield of 5.6% versus BEN's 4.0%. BEN is rated as the better value opportunity.

Franklin Templeton's assets under management fell 1.9% sequentially to $1.79 trillion as of September 30, 2026, due to market volatility affecting equity and fixed-income portfolios. However, the company generated $6 billion in long-term net inflows and its alternatives business grew to $303 billion, demonstrating resilience. Strategic acquisitions in private credit and digital assets, including the launch of Franklin Crypto, position the company for long-term growth despite near-term headwinds from private credit concerns.