Houlihan Lokey Inc (NYSE:HLI) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.33 per share by the financial services provider on Tuesday, September 15th. This represents a $1.32 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, September 1st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.31.
Houlihan Lokey has raised its dividend by an average of 81.8% annually over the last three years and has raised its dividend every year for the last 4 years. Houlihan Lokey has a payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Houlihan Lokey to earn $3.80 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 32.6%.
Shares of Houlihan Lokey stock traded down $0.52 during midday trading on Thursday, hitting $54.64. 2,751 shares of the company were exchanged, compared to its average volume of 395,949. Houlihan Lokey has a 52 week low of $41.80 and a 52 week high of $64.84. The firm has a 50 day simple moving average of $56.81 and a 200-day simple moving average of $55.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $3.66 billion, a P/E ratio of 18.09 and a beta of 0.71.
Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The business had revenue of $211.14 million for the quarter, compared to the consensus estimate of $230.98 million. Houlihan Lokey had a net margin of 16.70% and a return on equity of 21.69%. Houlihan Lokey’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Equities research analysts expect that Houlihan Lokey will post 2.28 earnings per share for the current year.
Several analysts recently weighed in on HLI shares. Morgan Stanley upped their price objective on Houlihan Lokey from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. downgraded shares of Houlihan Lokey from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $57.00 in a research note on Friday, July 10th. Zacks Investment Research lowered Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. UBS Group raised their price objective on Houlihan Lokey from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Wolfe Research initiated coverage on Houlihan Lokey in a research note on Wednesday, July 22nd. They set a “peer perform” rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.71.
In other news, CEO Scott L. Beiser sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $60.19, for a total transaction of $601,900.00. Following the completion of the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $601,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 38.23% of the company’s stock.
About Houlihan Lokey
Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), financing, financial restructuring, and financial advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial Advisory Services. The Corporate Finance segment offers general financial advisory services; and advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as financial sponsors on various transactions.
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