Lincoln International (NYSE:LCLN) Issues Earnings Results

Lincoln International (NYSE:LCLN) posted its earnings results on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07, FiscalAI reports. The company had revenue of $293.65 million during the quarter.

Here are the key takeaways from Lincoln International’s conference call:

• Lincoln reported record third-quarter revenue of $293.7 million, up 57% year over year, and adjusted diluted EPS of $0.46. Investment banking revenue rose 70% and valuations and opinions revenue rose 18%.
• Management described an improving M&A environment, with near-record, quality-screened backlog, strong recent pitch activity, and greater sponsor engagement. The company expects fourth-quarter investment banking revenue to be within its usual 30%–40% share of annual revenue, but toward the lower end.
• Capital advisory and private funds advisory benefited from financing and fundraising demand, while valuations and opinions saw record quarterly revenue and 25% more portfolio valuations year over year. Management pointed to more frequent valuations and increasingly complex private-market investments as potential long-term growth drivers.
• Management said the sponsor market is improving but not yet strong, with buyers remaining selective; it also noted rising foreclosure activity and pressure on some portfolio companies. The company expects a new tax-code provision to put upward pressure on its tax rate beginning in 2027.
• MarshBerry, acquired in October 2025, has an all-time-high backlog and is expected to perform well, though its business is more weighted to the fourth quarter. Management also said it is evaluating potential acquisitions, but gave no timing or details on any deals.

Lincoln International Stock Down 3.3%

Shares of LCLN traded down $0.89 during trading hours on Friday, hitting $25.94. The company had a trading volume of 897,877 shares, compared to its average volume of 250,741. The stock has a market capitalization of $904.01 million and a price-to-earnings ratio of 99.77. The stock has a fifty day moving average price of $24.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.76 and a current ratio of 1.76. Lincoln International has a 12 month low of $20.05 and a 12 month high of $28.71.

Lincoln International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 1st. Lincoln International’s payout ratio is currently 107.69%.

Hedge Funds Weigh In On Lincoln International

A number of hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new position in Lincoln International in the 2nd quarter worth about $22,029,000. Alyeska Investment Group L.P. bought a new stake in Lincoln International in the second quarter valued at $6,326,000. Allspring Global Investments Holdings LLC increased its stake in Lincoln International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 526,160 shares of the company’s stock valued at $12,317,000 after purchasing an additional 152,272 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Lincoln International during the second quarter valued at about $813,000. Finally, Readystate Asset Management LP bought a new position in shares of Lincoln International during the 2nd quarter worth about $716,000.

Analysts Set New Price Targets

A number of brokerages have commented on LCLN. Morgan Stanley lowered their target price on Lincoln International from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 8th. Zacks Research downgraded shares of Lincoln International from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Weiss Ratings initiated coverage on shares of Lincoln International in a report on Monday, August 17th. They set a “sell (e)” rating on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Lincoln International in a research report on Friday. Finally, Evercore set a $26.00 target price on shares of Lincoln International in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.21.

Lincoln International Company Profile

Lincoln International is a global investment banking and advisory firm that focuses on serving middle-market companies, private equity firms and other financial sponsors. The firm provides advice on mergers and acquisitions, divestitures, recapitalizations, restructurings and other strategic transactions.

Its services also include capital advisory, private funds advisory, valuation and fairness opinions, and other financial analysis. Lincoln International works with clients across a range of industries, including business services, consumer products, healthcare, industrials, technology and financial services.

Founded in 1996, Lincoln International is headquartered in Chicago and serves clients through offices and professionals across North America, Europe and Asia.