Equities research analysts expect LPL Financial Holdings Inc (NASDAQ:LPLA) to post earnings per share of $1.22 for the current quarter, according to Zacks. Four analysts have issued estimates for LPL Financial’s earnings, with the highest EPS estimate coming in at $1.26 and the lowest estimate coming in at $1.15. LPL Financial posted earnings of $0.74 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 64.9%. The firm is expected to issue its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that LPL Financial will report full year earnings of $4.91 per share for the current year, with EPS estimates ranging from $4.44 to $5.08. For the next year, analysts expect that the business will post earnings of $5.70 per share, with EPS estimates ranging from $5.07 to $6.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 3rd. The financial services provider reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. LPL Financial had a return on equity of 31.76% and a net margin of 6.33%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis.
A number of equities research analysts have commented on the company. Credit Suisse Group lifted their target price on LPL Financial from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, May 8th. Morgan Stanley lifted their target price on LPL Financial from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 30th. Goldman Sachs Group downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a research report on Wednesday, May 16th. Sanford C. Bernstein assumed coverage on LPL Financial in a research report on Monday, April 9th. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.73.
In other news, Director John Andrew Kalbaugh sold 1,627 shares of LPL Financial stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $70.20, for a total value of $114,215.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tracy Calder sold 7,388 shares of the business’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $64.54, for a total value of $476,821.52. The disclosure for this sale can be found here. Insiders sold 15,065 shares of company stock valued at $1,011,996 over the last ninety days. Insiders own 2.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. American International Group Inc. acquired a new position in LPL Financial during the 4th quarter worth $119,000. Ladenburg Thalmann Financial Services Inc. grew its stake in LPL Financial by 140.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,278 shares in the last quarter. Private Capital Group LLC grew its stake in LPL Financial by 266.9% during the 1st quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,583 shares in the last quarter. Barings LLC acquired a new position in LPL Financial during the 1st quarter worth $214,000. Finally, Cetera Advisors LLC acquired a new position in LPL Financial during the 1st quarter worth $217,000. 93.03% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:LPLA opened at $66.25 on Thursday. LPL Financial has a 52 week low of $41.92 and a 52 week high of $73.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.66.
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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