Q2 2017 EPS Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA) Increased by Analyst
LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair upped their Q2 2017 earnings per share estimates for LPL Financial Holdings in a note issued to investors on Monday. William Blair analyst C. Shutler now expects that the financial services provider will post earnings per share of $0.72 for the quarter, up from their prior forecast of $0.69. William Blair also issued estimates for LPL Financial Holdings’ Q3 2017 earnings at $0.70 EPS, FY2017 earnings at $2.65 EPS and FY2018 earnings at $3.11 EPS.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $48.00 target price on shares of LPL Financial Holdings in a report on Tuesday, June 6th. Citigroup Inc. increased their target price on LPL Financial Holdings from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Nomura upgraded LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a report on Friday, April 28th. Finally, Instinet upgraded LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $42.73.
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Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 45.29 on Tuesday. LPL Financial Holdings has a 12-month low of $23.88 and a 12-month high of $45.62. The company has a 50-day moving average of $42.18 and a 200 day moving average of $40.39. The firm has a market cap of $4.10 billion, a P/E ratio of 21.67 and a beta of 1.82.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.30. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. LPL Financial Holdings had a net margin of 4.65% and a return on equity of 25.04%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in LPL Financial Holdings by 11,835.9% in the first quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock valued at $139,907,000 after buying an additional 3,483,173 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in LPL Financial Holdings during the first quarter valued at about $46,765,000. Vanguard Group Inc. boosted its position in LPL Financial Holdings by 16.7% in the first quarter. Vanguard Group Inc. now owns 7,952,138 shares of the financial services provider’s stock valued at $316,734,000 after buying an additional 1,136,785 shares in the last quarter. Janus Capital Management LLC boosted its position in LPL Financial Holdings by 13.1% in the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after buying an additional 1,038,731 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in LPL Financial Holdings by 448.8% in the first quarter. Principal Financial Group Inc. now owns 985,776 shares of the financial services provider’s stock valued at $39,263,000 after buying an additional 806,159 shares in the last quarter. Institutional investors and hedge funds own 90.80% of the company’s stock.
In related news, insider William P. Jr. Morrissey sold 32,150 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $39.34, for a total value of $1,264,781.00. Following the transaction, the insider now owns 49,691 shares in the company, valued at $1,954,843.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.
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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