Equities research analysts predict that LPL Financial Holdings Inc (NASDAQ:LPLA) will report earnings of $1.76 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for LPL Financial’s earnings, with the highest EPS estimate coming in at $1.81 and the lowest estimate coming in at $1.71. LPL Financial reported earnings of $1.30 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 35.4%. The business is expected to announce its next earnings results on Thursday, July 25th.
According to Zacks, analysts expect that LPL Financial will report full-year earnings of $7.08 per share for the current year, with EPS estimates ranging from $7.03 to $7.16. For the next financial year, analysts expect that the business will report earnings of $7.49 per share, with EPS estimates ranging from $7.17 to $7.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.33. LPL Financial had a return on equity of 53.97% and a net margin of 9.42%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis.
Several research firms have weighed in on LPLA. BidaskClub cut LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. Citigroup lifted their target price on LPL Financial from $95.00 to $102.00 and gave the company an “underweight” rating in a research note on Thursday, May 23rd. Compass Point cut LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 target price on the stock. in a research note on Wednesday, May 8th. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group cut LPL Financial from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $84.16.
In related news, CEO Dan H. Arnold sold 1,222 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $85.00, for a total value of $103,870.00. Following the completion of the sale, the chief executive officer now owns 230,068 shares of the company’s stock, valued at approximately $19,555,780. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tracy Calder sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.25, for a total value of $42,125.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,722 shares of company stock valued at $653,055. 2.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new stake in LPL Financial in the 1st quarter worth approximately $26,000. Sandy Spring Bank acquired a new stake in LPL Financial in the 1st quarter worth approximately $34,000. Advisory Services Network LLC lifted its holdings in LPL Financial by 131.8% in the 1st quarter. Advisory Services Network LLC now owns 605 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 344 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of LPL Financial during the first quarter worth approximately $105,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of LPL Financial during the first quarter worth approximately $118,000. 93.75% of the stock is owned by institutional investors and hedge funds.
NASDAQ:LPLA traded up $1.22 on Thursday, hitting $79.90. 20,597 shares of the company’s stock traded hands, compared to its average volume of 597,930. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.40 and a current ratio of 1.40. LPL Financial has a 1 year low of $52.03 and a 1 year high of $86.09. The firm’s 50-day simple moving average is $82.67. The firm has a market capitalization of $6.63 billion, a P/E ratio of 15.07, a PEG ratio of 0.73 and a beta of 1.42.
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. LPL Financial’s payout ratio is 18.76%.
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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