Zacks upgrades Lazard stock to Hold as net income drops

Published on 10/07/2026 at 06:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net income fell 91.00 percent to USD 5 million in the second quarter. The next results arrive for Lazard stock on October 22, 2026 at 8:00 a.m. ET.

LAZ, US52110M1099, Illustration mit AI erstellt.

Lazard (ISIN US52110M1099) reported second-quarter 2026 net income of USD 5 million, down 91.00 percent from USD 55 million a year earlier, according to EL7.ai. As MarketBeat reported on September 30, 2026, Zacks Research upgraded Lazard from Strong Sell to Hold.

Net income drops 91.00 percent

The second-quarter result shows a sharp split between Lazard's revenue base and its earnings conversion. Net revenue rose 1.00 percent to USD 808 million in the second quarter of 2026, but higher costs and a 63.50 percent effective tax rate pushed net income down.

Financial Advisory revenue fell 9.00 percent to USD 450 million, while Asset Management revenue rose 20.00 percent to USD 351 million, according to EL7.ai. The contrast matters because recurring asset-management fees partly offset weaker advisory activity, but the improvement did not prevent the quarterly profit decline.

October 22 sets the results date

Lazard will publish third-quarter and nine-month 2026 financial results on October 22, 2026, with a conference call at 8:00 a.m. ET, according to Lazard. The scheduled release gives investors a defined test for whether advisory revenue can recover while asset-management flows remain supportive.

Activism activity reaches 184 campaigns

Lazard's H1 2026 Review of Shareholder Activism counted 184 new activist campaigns globally in the first half of 2026, the busiest six-month period on record, according to the company's research page. The figure connects directly with Lazard's advisory franchise, but it does not remove the near-term earnings pressure shown by the second-quarter margin and tax figures.

NYSE range remains wide

On the NYSE, Lazard was last at USD 36.36 on October 6, 2026 at 4:00 p.m. ET. Its 52-week range was USD 35.16 to USD 58.75, and its market capitalization was USD 3.5 billion on that date.

The prior close at Lang & Schwarz was EUR 32.30 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Lazard stock.