Brokerages expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will announce $1.41 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for LPL Financial’s earnings. The highest sales estimate is $1.42 billion and the lowest is $1.39 billion. LPL Financial posted sales of $1.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The firm is scheduled to report its next earnings report on Thursday, July 25th.
On average, analysts expect that LPL Financial will report full-year sales of $5.62 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.70 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.00 billion, with estimates ranging from $5.80 billion to $6.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.60 by $0.33. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS.
A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, May 8th. Compass Point downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price target on the stock. in a report on Wednesday, May 8th. Citigroup increased their price target on shares of LPL Financial to $100.00 and gave the stock a “buy” rating in a report on Friday, February 1st. Finally, Morgan Stanley set a $70.00 price objective on shares of LPL Financial and gave the stock a “hold” rating in a research report on Friday, February 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. LPL Financial has an average rating of “Buy” and a consensus price target of $83.52.
NASDAQ LPLA traded down $0.03 during mid-day trading on Wednesday, reaching $81.95. 501,700 shares of the stock were exchanged, compared to its average volume of 783,298. LPL Financial has a 1 year low of $52.03 and a 1 year high of $85.00. The company has a market capitalization of $6.66 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.75 and a beta of 1.61. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.40 and a current ratio of 1.40.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, May 17th. LPL Financial’s dividend payout ratio is presently 18.76%.
In other LPL Financial news, insider Thomas Gooley sold 25,392 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $74.06, for a total transaction of $1,880,531.52. Following the completion of the transaction, the insider now directly owns 17,293 shares in the company, valued at $1,280,719.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracy Calder sold 500 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.25, for a total transaction of $42,125.00. The disclosure for this sale can be found here. Insiders have sold 47,034 shares of company stock valued at $3,560,188 over the last 90 days. 2.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Morgan Stanley raised its position in shares of LPL Financial by 94.3% in the first quarter. Morgan Stanley now owns 167,435 shares of the financial services provider’s stock valued at $11,662,000 after buying an additional 81,251 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of LPL Financial in the first quarter valued at about $218,000. Advisors Asset Management Inc. raised its position in shares of LPL Financial by 27.9% in the first quarter. Advisors Asset Management Inc. now owns 8,307 shares of the financial services provider’s stock valued at $579,000 after buying an additional 1,814 shares during the last quarter. SEI Investments Co raised its position in shares of LPL Financial by 80.8% in the first quarter. SEI Investments Co now owns 119,855 shares of the financial services provider’s stock valued at $8,352,000 after buying an additional 53,549 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of LPL Financial by 66.9% in the first quarter. Goldman Sachs Group Inc. now owns 323,960 shares of the financial services provider’s stock valued at $22,564,000 after buying an additional 129,853 shares during the last quarter. Institutional investors own 96.49% 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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