Analysts forecast that LPL Financial Holdings Inc (NASDAQ:LPLA) will announce earnings of $1.65 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for LPL Financial’s earnings, with estimates ranging from $1.63 to $1.68. LPL Financial reported earnings per share of $1.49 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, January 30th.
On average, analysts expect that LPL Financial will report full year earnings of $7.15 per share for the current year, with EPS estimates ranging from $7.13 to $7.17. For the next fiscal year, analysts forecast that the company will report earnings of $7.19 per share, with EPS estimates ranging from $6.89 to $7.57. Zacks’ EPS averages are a mean average based on a survey of research firms that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.10. LPL Financial had a net margin of 10.07% and a return on equity of 59.56%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.
A number of brokerages have commented on LPLA. Morgan Stanley decreased their price objective on shares of LPL Financial from $90.00 to $84.00 and set an “equal weight” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group began coverage on shares of LPL Financial in a report on Tuesday, September 17th. They set a “buy” rating and a $96.00 price objective on the stock. Citigroup increased their price objective on shares of LPL Financial from $105.00 to $110.00 and gave the stock a “sell” rating in a report on Friday, November 15th. Zacks Investment Research raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, BidaskClub raised shares of LPL Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $92.64.
NASDAQ:LPLA traded up $1.20 during mid-day trading on Wednesday, reaching $91.67. 451,207 shares of the company were exchanged, compared to its average volume of 700,405. LPL Financial has a 12 month low of $56.20 and a 12 month high of $92.99. The company has a fifty day moving average of $85.44 and a 200 day moving average of $81.62. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.56. The stock has a market cap of $7.40 billion, a PE ratio of 17.20, a PEG ratio of 0.86 and a beta of 1.43.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. LPL Financial’s payout ratio is presently 18.76%.
In related news, Director Michelle Oroschakoff sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $85.95, for a total value of $429,750.00. Following the sale, the director now directly owns 14,563 shares in the company, valued at approximately $1,251,689.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tracy Calder sold 13,181 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $91.60, for a total transaction of $1,207,379.60. Following the completion of the sale, the director now owns 8,089 shares in the company, valued at $740,952.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,600 shares of company stock worth $12,483,871. Corporate insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Synovus Financial Corp raised its position in shares of LPL Financial by 3.6% in the 3rd quarter. Synovus Financial Corp now owns 4,288 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 151 shares during the period. IHT Wealth Management LLC raised its position in shares of LPL Financial by 1.7% in the 2nd quarter. IHT Wealth Management LLC now owns 9,294 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 157 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of LPL Financial by 4.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,338 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 231 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of LPL Financial by 3.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,179 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 234 shares during the period. Finally, Alpha Windward LLC raised its position in shares of LPL Financial by 4.1% in the 3rd quarter. Alpha Windward LLC now owns 6,039 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.
LPL Financial Company Profile
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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