Brokerages predict that LPL Financial Holdings Inc. (NASDAQ:LPLA) will report $1.12 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for LPL Financial Holdings’ earnings, with estimates ranging from $1.10 billion to $1.17 billion. LPL Financial Holdings posted sales of $1.01 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is expected to announce its next earnings results on Thursday, February 8th.
On average, analysts expect that LPL Financial Holdings will report full year sales of $1.12 billion for the current year, with estimates ranging from $4.20 billion to $4.34 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.02 billion per share, with estimates ranging from $4.89 billion to $5.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow LPL Financial Holdings.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. LPL Financial Holdings’s revenue was up 4.6% compared to the same quarter last year.
Several research firms recently weighed in on LPLA. Nomura lifted their target price on LPL Financial Holdings from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Citigroup Inc. lifted their target price on LPL Financial Holdings from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, November 10th. SunTrust Banks, Inc. upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and lifted their target price for the company from $49.00 to $55.00 in a research report on Wednesday, August 16th. Morgan Stanley lifted their target price on LPL Financial Holdings from $39.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded LPL Financial Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.20.
Shares of LPL Financial Holdings (LPLA) opened at $49.30 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial Holdings has a fifty-two week low of $34.01 and a fifty-two week high of $53.92. The company has a market capitalization of $4,446.37, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.64 and a beta of 1.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 9th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. LPL Financial Holdings’s payout ratio is 42.55%.
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In other news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in shares of LPL Financial Holdings in the second quarter valued at about $399,202,000. Vanguard Group Inc. lifted its position in shares of LPL Financial Holdings by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after acquiring an additional 827,372 shares in the last quarter. BlackRock Inc. lifted its position in shares of LPL Financial Holdings by 1.3% in the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock valued at $151,098,000 after acquiring an additional 46,013 shares in the last quarter. Samlyn Capital LLC lifted its position in shares of LPL Financial Holdings by 55.6% in the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after acquiring an additional 528,780 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of LPL Financial Holdings by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,456,934 shares of the financial services provider’s stock valued at $61,860,000 after acquiring an additional 42,820 shares in the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.
About LPL Financial Holdings
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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