JPMorgan Chase & Co. cut shares of Houlihan Lokey (NYSE:HLI) from an overweight rating to a neutral rating in a report published on Friday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $57.00 price target on the financial services provider’s stock, down from their prior price target of $66.00.
Other research analysts have also issued reports about the company. ValuEngine lowered Houlihan Lokey from a hold rating to a sell rating in a report on Thursday, July 2nd. Zacks Investment Research lowered Houlihan Lokey from a strong-buy rating to a hold rating in a research report on Wednesday, April 15th. Morgan Stanley increased their price target on Houlihan Lokey from $58.00 to $62.00 and gave the company an equal weight rating in a research report on Wednesday, May 13th. Finally, UBS Group increased their price target on Houlihan Lokey from $55.00 to $66.00 and gave the company a buy rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $59.67.
NYSE:HLI opened at $54.89 on Friday. The business’s 50-day moving average price is $58.09 and its 200 day moving average price is $54.79. The firm has a market cap of $3.59 billion, a P/E ratio of 19.60 and a beta of 0.71. Houlihan Lokey has a 52-week low of $41.80 and a 52-week high of $64.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16.
Houlihan Lokey (NYSE:HLI) last released its earnings results on Tuesday, May 12th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.19. The firm had revenue of $302.69 million for the quarter, compared to analyst estimates of $290.19 million. Houlihan Lokey had a return on equity of 22.67% and a net margin of 15.85%. Houlihan Lokey’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Sell-side analysts expect that Houlihan Lokey will post 2.28 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.31 dividend. The ex-dividend date was Thursday, June 4th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.26%. Houlihan Lokey’s dividend payout ratio (DPR) is 38.75%.
In other Houlihan Lokey news, Chairman Irwin Gold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $55.06, for a total transaction of $550,600.00. Following the completion of the sale, the chairman now directly owns 10,000 shares in the company, valued at approximately $550,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 38.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in Houlihan Lokey by 38.4% during the 1st quarter. Federated Hermes Inc. now owns 620 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 172 shares during the period. National Asset Management Inc. boosted its position in Houlihan Lokey by 5.4% during the 1st quarter. National Asset Management Inc. now owns 4,493 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 229 shares during the period. Commerce Bank boosted its position in Houlihan Lokey by 2.9% during the 1st quarter. Commerce Bank now owns 8,932 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 252 shares during the period. Synovus Financial Corp boosted its position in Houlihan Lokey by 36.8% during the 1st quarter. Synovus Financial Corp now owns 1,029 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 277 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Houlihan Lokey by 2.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,128 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 278 shares during the period. Hedge funds and other institutional investors own 71.36% 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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