Wall Street brokerages expect Hamilton Lane Incorporated (NASDAQ:HLNE) to post sales of $70.41 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Hamilton Lane's earnings, with the lowest sales estimate coming in at $69.60 million and the highest estimate coming in at $71.23 million. Hamilton Lane reported sales of $64.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, November 4th.
On average, analysts expect that Hamilton Lane will report full-year sales of $295.82 million for the current financial year, with estimates ranging from $287.10 million to $304.67 million. For the next financial year, analysts anticipate that the company will post sales of $341.74 million, with estimates ranging from $337.60 million to $346.10 million. Zacks Investment Research's sales calculations are a mean average based on a survey of analysts that cover Hamilton Lane.
Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.13 EPS for the quarter, missing the Zacks' consensus estimate of $0.26 by ($0.13). The business had revenue of $67.00 million for the quarter, compared to analysts' expectations of $69.28 million. Hamilton Lane had a net margin of 18.88% and a return on equity of 40.53%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share.
A number of research firms recently weighed in on HLNE. Zacks Investment Research lowered shares of Hamilton Lane from a "hold" rating to a "sell" rating in a report on Thursday, August 6th. BidaskClub lowered shares of Hamilton Lane from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. Finally, Morgan Stanley upped their target price on shares of Hamilton Lane from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Hamilton Lane has an average rating of "Hold" and an average target price of $73.25.
Hamilton Lane stock opened at $67.99 on Monday. The firm's 50 day simple moving average is $66.12 and its 200 day simple moving average is $65.70. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.59 billion, a PE ratio of 37.15 and a beta of 0.97. Hamilton Lane has a 1-year low of $36.27 and a 1-year high of $76.31.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Monday, September 14th. Hamilton Lane's payout ratio is 62.19%.
In other news, major shareholder Oakville Number 2 Trust sold 75,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.18, for a total value of $5,263,500.00. Following the transaction, the insider now owns 710,015 shares of the company's stock, valued at approximately $49,828,852.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.55% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in shares of Hamilton Lane during the 1st quarter valued at $26,000. Nisa Investment Advisors LLC grew its holdings in shares of Hamilton Lane by 43.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 560 shares of the company's stock valued at $38,000 after purchasing an additional 170 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Hamilton Lane during the 2nd quarter valued at $97,000. Bank of Montreal Can bought a new position in shares of Hamilton Lane during the 2nd quarter valued at $129,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hamilton Lane by 93.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,630 shares of the company's stock valued at $177,000 after buying an additional 1,268 shares during the period. 56.94% of the stock is currently owned by institutional investors.
About Hamilton Lane
Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions.
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