LPL Financial Holdings Price Target Cut to $53.00 (LPLA)
Research analysts at UBS AG lowered their price target on shares of LPL Financial Holdings (NASDAQ:LPLA) to $53.00 in a report released on Thursday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target suggests a potential upside of 12.31% from the stock’s previous close.
LPL Financial Holdings (NASDAQ:LPLA) traded down 3.89% during mid-day trading on Thursday, hitting $47.19. 1,588,516 shares of the company’s stock traded hands. LPL Financial Holdings has a 52 week low of $33.87 and a 52 week high of $56.45. The stock has a 50-day moving average of $51.53 and a 200-day moving average of $47.75. The company has a market cap of $4.807 billion and a P/E ratio of 28.55.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.69 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.72 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.64 earnings per share. LPL Financial Holdings’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that LPL Financial Holdings will post $2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, May 20th. Investors of record on Tuesday, May 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, May 2nd.
A number of other firms have also recently commented on LPLA. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of LPL Financial Holdings in a research note on Wednesday, April 9th. They now have a $60.00 price target on the stock, down previously from $63.00. Separately, analysts at Morgan Stanley cut their price target on shares of LPL Financial Holdings from $55.00 to $53.00 in a research note on Tuesday, April 8th. Finally, analysts at Nomura raised their price target on shares of LPL Financial Holdings from $62.00 to $63.00 in a research note on Wednesday, March 26th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.68.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
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