Houlihan Lokey, Inc. (NYSE:HLI) to Issue $0.57 Quarterly Dividend

Houlihan Lokey, Inc. (NYSE:HLI) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Monday, December 2nd will be given a dividend of 0.57 per share by the financial services provider on Sunday, December 15th. This represents a $2.28 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, December 2nd.

Houlihan Lokey has raised its dividend by an average of 19.4% per year over the last three years. Houlihan Lokey has a dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Houlihan Lokey to earn $6.96 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 32.8%.

Houlihan Lokey Stock Performance

HLI stock traded up $2.30 during trading on Friday, hitting $175.07. 52,285 shares of the company traded hands, compared to its average volume of 319,805. Houlihan Lokey has a 1 year low of $100.92 and a 1 year high of $175.54. The company has a 50-day moving average of $160.25 and a 200-day moving average of $145.03. The firm has a market capitalization of $12.17 billion, a PE ratio of 35.77 and a beta of 0.66.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.67%. The company had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. During the same quarter in the previous year, the business posted $1.11 EPS. Houlihan Lokey’s revenue was up 23.1% compared to the same quarter last year. Sell-side analysts expect that Houlihan Lokey will post 5.64 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $152.49, for a total transaction of $30,498.00. Following the transaction, the director now owns 7,001 shares in the company, valued at $1,067,582.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The disclosure for this sale can be found here. Insiders have sold 9,917 shares of company stock valued at $1,513,129 in the last ninety days. Insiders own 23.68% of the company’s stock.

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.