Equities research analysts predict that LPL Financial Holdings Inc (NASDAQ:LPLA) will report sales of $1.19 billion for the current quarter, Zacks reports. Four analysts have made estimates for LPL Financial’s earnings, with the lowest sales estimate coming in at $1.18 billion and the highest estimate coming in at $1.20 billion. LPL Financial posted sales of $1.04 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, May 3rd.
According to Zacks, analysts expect that LPL Financial will report full year sales of $1.19 billion for the current year, with estimates ranging from $4.85 billion to $5.12 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.21 billion per share, with estimates ranging from $5.04 billion to $5.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow LPL Financial.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.52. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion.
Several analysts recently issued reports on the company. BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a report on Friday, January 5th. Sanford C. Bernstein assumed coverage on LPL Financial in a report on Monday. They issued an “outperform” rating and a $75.00 price target for the company. ValuEngine downgraded LPL Financial from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Finally, Morgan Stanley raised shares of LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price objective for the company in a research report on Wednesday, January 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.91.
In other LPL Financial news, Director Marco Hellman sold 1,150,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $62.12, for a total value of $71,438,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Andrew Kalbaugh sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $62.61, for a total transaction of $626,100.00. Following the completion of the transaction, the insider now directly owns 38,050 shares of the company’s stock, valued at $2,382,310.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,469,435 shares of company stock valued at $92,312,374. 2.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of LPLA. The Manufacturers Life Insurance Company lifted its position in shares of LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of LPL Financial by 799.4% during the third quarter. Nationwide Fund Advisors now owns 150,801 shares of the financial services provider’s stock worth $7,777,000 after purchasing an additional 134,035 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of LPL Financial by 9.7% during the third quarter. New York State Common Retirement Fund now owns 243,648 shares of the financial services provider’s stock worth $12,565,000 after purchasing an additional 21,605 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of LPL Financial by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 523,323 shares of the financial services provider’s stock worth $26,987,000 after purchasing an additional 14,029 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of LPL Financial during the third quarter worth about $200,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ LPLA traded up $0.54 during trading hours on Thursday, hitting $57.03. The company had a trading volume of 1,588,191 shares, compared to its average volume of 923,790. LPL Financial has a fifty-two week low of $37.38 and a fifty-two week high of $66.64. The company has a market cap of $5,289.10, a P/E ratio of 20.09, a P/E/G ratio of 1.01 and a beta of 1.62. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.47.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. LPL Financial’s payout ratio is currently 33.33%.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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