Houlihan Lokey (NYSE:HLI) Announces Quarterly Earnings Results

Houlihan Lokey (NYSE:HLI) announced its earnings results on Wednesday. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15, Briefing.com reports. The business had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. Houlihan Lokey had a return on equity of 19.67% and a net margin of 15.77%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share.

Houlihan Lokey Stock Down 0.8 %

NYSE HLI traded down $1.46 during trading hours on Friday, reaching $171.31. The company’s stock had a trading volume of 568,915 shares, compared to its average volume of 322,297. The firm’s 50-day moving average price is $160.96 and its 200-day moving average price is $145.55. Houlihan Lokey has a 1 year low of $100.92 and a 1 year high of $175.73. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 35.01 and a beta of 0.66.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 1.33%. Houlihan Lokey’s dividend payout ratio is presently 46.63%.

Insider Buying and Selling

In related news, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $168.08, for a total value of $33,616.00. Following the transaction, the director now directly owns 6,601 shares of the company’s stock, valued at approximately $1,109,496.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Christopher M. Crain sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $168.08, for a total value of $33,616.00. Following the completion of the sale, the director now directly owns 6,601 shares in the company, valued at approximately $1,109,496.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,917 shares of company stock valued at $1,513,129. Corporate insiders own 23.68% of the company’s stock.

Analyst Ratings Changes

HLI has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley raised their target price on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Wells Fargo & Company initiated coverage on Houlihan Lokey in a research report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $154.00 price objective (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.00.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.