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MarketScreener Homepage  >  Equities  >  Nyse  >  Lazard Ltd    LAZ   BMG540501027

LAZARD LTD

(LAZ)
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Lazard Names Ex-Citigroup Chairman Richard Parsons to Board

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06/13/2012 | 10:04am EDT

("Lazard Names Ex-Citigroup Chairman Richard Parsons to Board," at 9:43 a.m. EDT, misstated Mr. Parsons's age in the third paragraph. The correct version follows: )

 
   By Melodie Warner 
 

Investment bank Lazard Ltd. (>> Lazard Ltd) named politically connected former Citigroup Inc. (>> Citigroup Inc.) Chairman Richard D. Parsons to its board.

In March, Mr. Parsons, stepped down from Citigroup's board after 16 years, closing a chapter that included the company's near-death experience during the financial crisis.

The 64-year-old is a member of the Council on Jobs and Competitiveness for the U.S. Office of the President, senior advisor to the private-equity investment firm Providence Equity Partners and serves on the boards of Estee Lauder Cos. (>> The Estee Lauder Companies Inc.) and Madison Square Garden Co. (MSG).

Lazard reported in April its first-quarter profit fell 54% on costs tied to cutting staff, while its 11% net revenue easily topped expectations on stronger demand for deal-making advice.

Write to Melodie Warner at melodie.warner@dowjones.com

Stocks mentioned in the article : Lazard Ltd, Citigroup Inc., The Estee Lauder Companies Inc.
Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 6.47% 52.65 Delayed Quote.-34.10%
LAZARD LTD 3.29% 28.27 Delayed Quote.-29.25%
SQUARE, INC. -1.04% 128.05 Delayed Quote.104.68%
THE ESTÉE LAUDER COMPANIES INC. 1.00% 189.69 Delayed Quote.-8.16%
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Financials (USD)
Sales 2020 2 086 M - -
Net income 2020 191 M - -
Net Debt 2020 1 680 M - -
P/E ratio 2020 19,9x
Yield 2020 6,70%
Capitalization 2 955 M 2 955 M -
EV / Sales 2019
EV / Sales 2020 2,22x
Nbr of Employees 3 042
Free-Float 18,5%
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Mean consensus HOLD
Number of Analysts 11
Average target price 32,73 $
Last Close Price 28,27 $
Spread / Highest target 52,1%
Spread / Average Target 15,8%
Spread / Lowest Target -11,6%
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Managers
NameTitle
Kenneth Marc Jacobs Chairman & Chief Executive Officer
Alexander F. Stern President
Evan L. Russo Chief Financial Officer
Steven J. Heyer Independent Director
Sylvia Jay Independent Director
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