Zacks Investment Research upgraded shares of Houlihan Lokey (NYSE:HLI) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports. The firm currently has $50.00 price objective on the financial services provider’s stock.
According to Zacks, “Houlihan Lokey, Inc. is an investment bank which focuses on mergers and acquisitions, financings, financial restructurings and financial advisory services. The Company’s operating segments consist of Corporate Finance, encompassing M&A and capital markets advisory; Financial Restructuring both out-of-court and in formal bankruptcy or insolvency proceedings; Financial Advisory Services, including financial opinions and a variety of valuation services; and Strategic Consulting, which advises in the areas of strategy development, operations, and performance improvement. It operates primarily in the United States, Europe, Asia and Australia. Houlihan Lokey, Inc. is headquartered in LOS ANGELES, United States. “
A number of other equities analysts have also recently issued reports on the company. JMP Securities cut their price objective on BioCryst Pharmaceuticals from $18.00 to $10.00 and set an outperform rating for the company in a report on Thursday, May 23rd. Goldman Sachs Group reiterated a sell rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, ValuEngine cut Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Houlihan Lokey currently has an average rating of Buy and an average price target of $50.08.
Shares of NYSE HLI opened at $43.45 on Wednesday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 1.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50-day simple moving average of $45.26. Houlihan Lokey has a twelve month low of $34.31 and a twelve month high of $53.20.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.17. Houlihan Lokey had a return on equity of 22.31% and a net margin of 14.67%. The firm had revenue of $291.40 million during the quarter, compared to analysts’ expectations of $266.26 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, sell-side analysts expect that Houlihan Lokey will post 2.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a $0.31 dividend. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, May 31st. Houlihan Lokey’s dividend payout ratio is presently 43.21%.
In other news, major shareholder Orix Hlhz Holding Llc sold 3,000,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $45.52, for a total value of $136,560,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 80.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of HLI. ORIX Corp USA boosted its holdings in Houlihan Lokey by 574.0% during the 1st quarter. ORIX Corp USA now owns 4,109,721 shares of the financial services provider’s stock valued at $188,431,000 after acquiring an additional 3,500,000 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Houlihan Lokey during the 1st quarter valued at about $18,187,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Houlihan Lokey by 20.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,231,085 shares of the financial services provider’s stock valued at $102,296,000 after acquiring an additional 377,933 shares during the period. Pier Capital LLC purchased a new stake in Houlihan Lokey during the 1st quarter valued at about $8,518,000. Finally, Stifel Financial Corp boosted its holdings in Houlihan Lokey by 57.1% during the 4th quarter. Stifel Financial Corp now owns 394,186 shares of the financial services provider’s stock valued at $14,564,000 after acquiring an additional 143,333 shares during the period. Institutional investors own 58.04% 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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