Houlihan Lokey, Inc. (HLI) to Issue $0.20 Quarterly Dividend
Houlihan Lokey, Inc. (NYSE:HLI) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, December 4th will be paid a dividend of 0.20 per share by the financial services provider on Friday, December 15th. This represents a $0.80 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, December 1st.
Houlihan Lokey has a dividend payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Houlihan Lokey to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 36.0%.
Shares of Houlihan Lokey (HLI) traded down 4.70% on Thursday, reaching $41.33. The company’s stock had a trading volume of 2,092,301 shares. The company has a market cap of $2.77 billion, a P/E ratio of 21.43 and a beta of 0.36. The company’s 50 day moving average price is $38.88 and its 200 day moving average price is $35.99. Houlihan Lokey has a 12-month low of $23.19 and a 12-month high of $44.15.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.15. The business had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $207.72 million. Houlihan Lokey had a return on equity of 18.63% and a net margin of 14.10%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Analysts forecast that Houlihan Lokey will post $2.11 EPS for the current fiscal year.
Several analysts have weighed in on the company. UBS Group AG lifted their price objective on Houlihan Lokey from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America Corporation lifted their price objective on Houlihan Lokey from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday. BidaskClub cut Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Houlihan Lokey in a research report on Tuesday, October 3rd. Finally, TheStreet raised Houlihan Lokey from a “c” rating to a “b-” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.33.
In other news, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $36.26, for a total value of $24,901,917.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 69.70% of the company’s stock.
About Houlihan Lokey
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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