Houlihan Lokey Inc (NYSE:HLI) announced 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 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.31.
Houlihan Lokey has raised its dividend payment by an average of 81.8% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Houlihan Lokey has a dividend payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. 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%.
NYSE:HLI traded down $0.91 on Thursday, reaching $54.25. The stock had a trading volume of 5,347 shares, compared to its average volume of 395,949. The stock has a fifty day moving average price of $56.81 and a 200-day moving average price of $55.36. Houlihan Lokey has a 1-year low of $41.80 and a 1-year high of $64.84. The company has a market capitalization of $3.66 billion, a P/E ratio of 19.24 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16.
In other news, CEO Scott L. Beiser sold 10,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $60.19, for a total value of $601,900.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $601,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 38.23% of the stock is owned by insiders.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Morgan Stanley increased their price target on shares of Houlihan Lokey from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. ValuEngine cut Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. UBS Group lifted their target price on Houlihan Lokey from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Wolfe Research assumed coverage on shares of Houlihan Lokey in a research note on Wednesday, July 22nd. They issued a “peer perform” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Houlihan Lokey presently has an average rating of “Hold” and an average target price of $59.71.
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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