Brokerages predict that LPL Financial Holdings Inc (NASDAQ:LPLA) will report sales of $1.30 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for LPL Financial’s earnings. The highest sales estimate is $1.32 billion and the lowest is $1.29 billion. LPL Financial posted sales of $1.06 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 22.6%. The company is scheduled to report its next earnings results on Thursday, October 25th.
On average, analysts expect that LPL Financial will report full-year sales of $5.15 billion for the current fiscal year, with estimates ranging from $5.04 billion to $5.21 billion. For the next financial year, analysts anticipate that the business will report sales of $5.41 billion per share, with estimates ranging from $5.27 billion to $5.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow LPL Financial.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.10. LPL Financial had a net margin of 7.09% and a return on equity of 35.98%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 21.9% on a year-over-year basis.
Several brokerages have recently issued reports on LPLA. Credit Suisse Group boosted their price target on shares of LPL Financial from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, May 8th. Morgan Stanley boosted their price target on shares of LPL Financial from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. Goldman Sachs Group lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $81.00 price target for the company. in a report on Wednesday, May 16th. Zacks Investment Research lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub raised shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. LPL Financial presently has an average rating of “Hold” and an average price target of $79.09.
In related news, Director John Andrew Kalbaugh sold 1,627 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $70.20, for a total value of $114,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $66.90, for a total transaction of $401,400.00. Following the completion of the sale, the chief executive officer now directly owns 239,761 shares in the company, valued at $16,040,010.90. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Nova Scotia bought a new stake in LPL Financial in the 2nd quarter valued at $9,307,000. Advisors Asset Management Inc. lifted its position in LPL Financial by 158.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,983 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 6,726 shares in the last quarter. Soros Fund Management LLC lifted its position in LPL Financial by 106.6% in the 2nd quarter. Soros Fund Management LLC now owns 571,971 shares of the financial services provider’s stock valued at $37,487,000 after acquiring an additional 295,171 shares in the last quarter. Marshall Wace LLP bought a new stake in LPL Financial during the 2nd quarter worth about $7,698,000. Finally, Vident Investment Advisory LLC lifted its position in LPL Financial by 233.8% during the 2nd quarter. Vident Investment Advisory LLC now owns 14,115 shares of the financial services provider’s stock worth $925,000 after buying an additional 9,886 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of LPLA stock opened at $66.38 on Wednesday. LPL Financial has a 12-month low of $44.08 and a 12-month high of $73.28. The firm has a market capitalization of $5.84 billion, a PE ratio of 22.13, a PEG ratio of 0.85 and a beta of 1.70. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.44 and a quick ratio of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Thursday, August 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.51%. LPL Financial’s dividend payout ratio is currently 33.33%.
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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