Houlihan Lokey (NYSE:HLI) Releases Earnings Results, Beats Expectations By $0.22 EPS

Houlihan Lokey (NYSE:HLI) released its quarterly earnings data on Wednesday. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.22, FiscalAI reports. The business had revenue of $692.00 million for the quarter, compared to analysts’ expectations of $625.88 million. Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.

Houlihan Lokey Trading Up 3.3%

HLI stock traded up $4.42 during trading on Wednesday, hitting $136.77. 1,178,362 shares of the stock traded hands, compared to its average volume of 729,033. Houlihan Lokey has a one year low of $112.83 and a one year high of $202.49. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.71 and a beta of 1.00. The company has a 50 day simple moving average of $130.64 and a 200 day simple moving average of $145.59.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. US Capital Advisors set a $187.00 price target on shares of Houlihan Lokey in a research note on Thursday, July 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Houlihan Lokey from $160.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Bank of America assumed coverage on shares of Houlihan Lokey in a report on Friday, July 10th. They set a “buy” rating and a $164.00 price objective for the company. Finally, UBS Group lifted their target price on shares of Houlihan Lokey from $147.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.38.

Insiders Place Their Bets

In other news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $140.15, for a total value of $140,150.00. Following the completion of the transaction, the general counsel owned 1,000 shares in the company, valued at approximately $140,150. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.53% of the company’s stock.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment banking and financial advisory firm that provides services to corporations, institutions, financial sponsors and governments. The company advises clients on mergers and acquisitions, capital raising, financial restructuring and other strategic and corporate finance matters.

Its business also includes valuation and financial opinions, including fairness opinions, solvency opinions and other transaction-related analyses. Houlihan Lokey serves clients across a range of industries, with particular expertise in areas such as technology, media and telecommunications; financial services; healthcare; industrials; consumer products and services; and energy and natural resources.

Founded in 1972 by Roger Houlihan and O.