Houlihan Lokey Inc (NYSE:HLI) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.33 per share by the financial services provider on Tuesday, September 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.31.
Houlihan Lokey has increased its dividend by an average of 81.8% annually over the last three years and has increased its dividend every year for the last 4 years. Houlihan Lokey has a dividend payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Houlihan Lokey to earn $3.80 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 32.6%.
Shares of NYSE HLI traded down $1.08 during trading on Thursday, reaching $54.08. 6,966 shares of the stock traded hands, compared to its average volume of 395,949. Houlihan Lokey has a 52-week low of $41.80 and a 52-week high of $64.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average of $56.81 and a 200-day moving average of $55.36. The stock has a market capitalization of $3.66 billion, a P/E ratio of 19.24 and a beta of 0.71.
In other news, Chairman Irwin Gold sold 10,000 shares of Houlihan Lokey stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $55.06, for a total value of $550,600.00. Following 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 SEC, which is available through this link. 38.23% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the company. Morgan Stanley increased their price objective on Houlihan Lokey from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Zacks Investment Research lowered Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lowered Houlihan Lokey from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $57.00 in a research report on Friday, July 10th. Wolfe Research assumed coverage on Houlihan Lokey in a research report on Wednesday, July 22nd. They set a “peer perform” rating and a $60.00 price target on the stock. Finally, UBS Group raised their price target on Houlihan Lokey from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Houlihan Lokey currently has an average rating of “Hold” and an average price target of $59.71.
Houlihan Lokey Company Profile
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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