Wall Street brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to report $1.60 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LPL Financial’s earnings, with the highest EPS estimate coming in at $1.70 and the lowest estimate coming in at $1.45. LPL Financial posted earnings per share of $1.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 58.4%. The firm is expected to report its next earnings results after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that LPL Financial will report full-year earnings of $6.48 per share for the current financial year, with EPS estimates ranging from $6.31 to $6.68. For the next year, analysts expect that the firm will post earnings of $6.97 per share, with EPS estimates ranging from $6.35 to $7.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow LPL Financial.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.12. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.36 billion. LPL Financial had a return on equity of 46.58% and a net margin of 8.47%.
A number of analysts have commented on the company. Zacks Investment Research downgraded LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Morgan Stanley set a $70.00 target price on LPL Financial and gave the stock a “hold” rating in a research report on Friday, February 8th. Credit Suisse Group reiterated a “buy” rating and set a $91.00 target price on shares of LPL Financial in a research report on Monday, February 4th. BidaskClub downgraded LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Compass Point assumed coverage on LPL Financial in a research report on Monday, March 11th. They set a “buy” rating and a $82.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $81.22.
In other news, CEO Dan H. Arnold sold 7,113 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $77.34, for a total value of $550,119.42. Following the sale, the chief executive officer now directly owns 229,761 shares in the company, valued at $17,769,715.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle Oroschakoff sold 1,214 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $73.81, for a total value of $89,605.34. The disclosure for this sale can be found here. Insiders sold 128,752 shares of company stock worth $9,742,408 over the last 90 days. Company insiders own 2.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Contravisory Investment Management Inc. lifted its position in LPL Financial by 5.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after buying an additional 168 shares during the period. CWM LLC lifted its position in LPL Financial by 66.7% during the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock worth $27,000 after buying an additional 178 shares during the period. Bank of The West lifted its position in LPL Financial by 1.7% during the fourth quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock worth $734,000 after buying an additional 205 shares during the period. Kalos Management Inc. lifted its position in LPL Financial by 1.7% during the fourth quarter. Kalos Management Inc. now owns 14,133 shares of the financial services provider’s stock worth $863,000 after buying an additional 236 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in LPL Financial by 8.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,358 shares of the financial services provider’s stock worth $266,000 after buying an additional 341 shares during the period. Institutional investors and hedge funds own 93.97% of the company’s stock.
LPLA traded up $0.13 during trading on Friday, reaching $74.36. 435,596 shares of the stock were exchanged, compared to its average volume of 784,912. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.75 and a beta of 1.62. LPL Financial has a 1 year low of $52.03 and a 1 year high of $79.34.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. LPL Financial’s dividend payout ratio is currently 18.76%.
About LPL Financial
LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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