Wall Street brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to report $1.35 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LPL Financial’s earnings, with the lowest sales estimate coming in at $1.34 billion and the highest estimate coming in at $1.36 billion. LPL Financial posted sales of $1.24 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that LPL Financial will report full year sales of $5.41 billion for the current year, with estimates ranging from $5.15 billion to $5.53 billion. For the next financial year, analysts forecast that the business will post sales of $5.72 billion, with estimates ranging from $5.35 billion to $5.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for LPL Financial.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 31st. The financial services provider reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.12. LPL Financial had a net margin of 8.47% and a return on equity of 46.58%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.36 billion.
Several equities analysts recently weighed in on LPLA shares. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, February 7th. BidaskClub lowered shares of LPL Financial from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th. Goldman Sachs Group lowered shares of LPL Financial from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, April 2nd. ValuEngine upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Finally, Wells Fargo & Co increased their price objective on shares of LPL Financial from $61.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, January 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. LPL Financial has an average rating of “Buy” and an average price target of $81.22.
In other LPL Financial news, Director Michelle Oroschakoff sold 1,214 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $73.81, for a total value of $89,605.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 36,774 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $70.00, for a total transaction of $2,574,180.00. Following the completion of the sale, the chief executive officer now directly owns 269,761 shares of the company’s stock, valued at approximately $18,883,270. The disclosure for this sale can be found here. Insiders sold 165,526 shares of company stock valued at $12,316,588 in the last ninety days. Insiders own 2.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Contravisory Investment Management Inc. increased its stake in LPL Financial by 5.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 168 shares in the last quarter. CWM LLC increased its stake in LPL Financial by 66.7% in the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 178 shares in the last quarter. Bank of The West increased its stake in LPL Financial by 1.7% in the fourth quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 205 shares in the last quarter. Kalos Management Inc. increased its stake in LPL Financial by 1.7% in the fourth quarter. Kalos Management Inc. now owns 14,133 shares of the financial services provider’s stock valued at $863,000 after purchasing an additional 236 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in LPL Financial by 8.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,358 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 341 shares in the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ LPLA opened at $73.47 on Monday. LPL Financial has a fifty-two week low of $52.03 and a fifty-two week high of $79.34. The company has a market capitalization of $6.20 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.44.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 14th. LPL Financial’s payout ratio is presently 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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