Zacks: Brokerages Anticipate Hamilton Lane Inc. (HLNE) Will Post Quarterly Sales of $49.27 Million
Brokerages expect Hamilton Lane Inc. (NASDAQ:HLNE) to post $49.27 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Hamilton Lane’s earnings. The highest sales estimate is $49.50 million and the lowest is $49.03 million. The company is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Hamilton Lane will report full-year sales of $49.27 million for the current fiscal year, with estimates ranging from $200.33 million to $204.40 million. For the next financial year, analysts forecast that the firm will post sales of $240.56 million per share, with estimates ranging from $233.50 million to $248.53 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Hamilton Lane.
Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $52.70 million during the quarter, compared to the consensus estimate of $50.69 million. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share.
HLNE has been the topic of a number of research analyst reports. Zacks Investment Research cut Hamilton Lane from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price target (up from $21.00) on shares of Hamilton Lane in a report on Friday, June 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Hamilton Lane currently has a consensus rating of “Buy” and an average price target of $22.20.
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Hamilton Lane (NASDAQ:HLNE) traded down 1.05% on Friday, hitting $22.55. 68,063 shares of the company traded hands. Hamilton Lane has a 1-year low of $17.32 and a 1-year high of $24.00. The firm’s 50 day moving average price is $22.63 and its 200 day moving average price is $20.65. The firm has a market capitalization of $434.43 million and a PE ratio of 71.59.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.175 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.70 dividend on an annualized basis and a yield of 3.10%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new stake in shares of Hamilton Lane during the 1st quarter worth approximately $131,000. Henderson Group PLC purchased a new stake in shares of Hamilton Lane during the 1st quarter worth approximately $117,000. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Hamilton Lane during the 1st quarter worth approximately $202,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Hamilton Lane during the 1st quarter worth approximately $610,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Hamilton Lane during the 1st quarter worth approximately $1,320,000. 66.67% of the stock is currently owned by institutional investors.
About Hamilton Lane
Hamilton Lane Incorporated is a global private markets investment solutions provider. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it helps them access a set of such investment opportunities around the world.
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