Houlihan Lokey (NYSE:HLI) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS
Houlihan Lokey (NYSE:HLI) released its quarterly earnings data on Thursday. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11, Briefing.com reports. Houlihan Lokey had a return on equity of 23.00% and a net margin of 15.45%. The company had revenue of $250.35 million during the quarter, compared to the consensus estimate of $228.98 million. During the same period last year, the company earned $0.55 EPS. Houlihan Lokey’s revenue for the quarter was up 13.8% on a year-over-year basis.
Shares of Houlihan Lokey stock traded up $2.44 during trading hours on Friday, reaching $46.82. 688,420 shares of the stock traded hands, compared to its average volume of 257,829. The business’s 50 day moving average is $44.68. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. Houlihan Lokey has a one year low of $34.31 and a one year high of $51.14. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01.
HLI has been the subject of several research analyst reports. Buckingham Research reduced their price objective on PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Zacks Investment Research downgraded Verso from a “buy” rating to a “hold” rating in a report on Saturday. JMP Securities reduced 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 downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $50.08.
Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. bought a new stake in shares of Houlihan Lokey during the 4th quarter valued at about $3,390,000. Pier Capital LLC purchased a new position in shares of Houlihan Lokey during the 1st quarter valued at about $8,518,000. Tibra Equities Europe Ltd purchased a new position in shares of Houlihan Lokey during the 1st quarter valued at about $477,000. Dimensional Fund Advisors LP lifted its position in shares of Houlihan Lokey by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 576,789 shares of the financial services provider’s stock valued at $21,226,000 after buying an additional 16,589 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Houlihan Lokey by 41.8% during the 4th quarter. Advisor Group Inc. now owns 4,094 shares of the financial services provider’s stock valued at $151,000 after buying an additional 1,207 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.
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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