$0.66 Earnings Per Share Expected for LPL Financial Holdings Inc. (LPLA) This Quarter
Brokerages predict that LPL Financial Holdings Inc. (NASDAQ:LPLA) will announce earnings per share (EPS) of $0.66 for the current quarter, according to Zacks. Four analysts have issued estimates for LPL Financial Holdings’ earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.72. LPL Financial Holdings posted earnings per share of $0.53 in the same quarter last year, which would suggest a positive year over year growth rate of 24.5%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that LPL Financial Holdings will report full-year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.65. For the next year, analysts expect that the business will report earnings of $2.89 per share, with EPS estimates ranging from $2.66 to $3.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover LPL Financial Holdings.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.30. LPL Financial Holdings had a return on equity of 25.04% and a net margin of 4.65%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year.
LPLA has been the subject of a number of recent research reports. Nomura raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $51.00 in a research note on Friday, April 28th. Citigroup Inc. upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Instinet upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.00 in a research report on Friday, April 28th. Keefe, Bruyette & Woods upgraded shares of LPL Financial Holdings from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $44.00 to $48.00 in a research report on Friday, April 28th. Finally, Zacks Investment Research lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial Holdings currently has an average rating of “Buy” and a consensus price target of $42.73.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of LPL Financial Holdings stock in a transaction on Friday, June 2nd. The shares were 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 approximately $1,954,843.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.70% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of LPLA. Public Employees Retirement Association of Colorado raised its position in LPL Financial Holdings by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares during the last quarter. Tyers Asset Management LLC acquired a new position in LPL Financial Holdings during the first quarter valued at $138,000. James Investment Research Inc. acquired a new position in LPL Financial Holdings during the first quarter valued at $142,000. SG Americas Securities LLC acquired a new position in LPL Financial Holdings during the first quarter valued at $171,000. Finally, Elkfork Partners LLC acquired a new position in LPL Financial Holdings during the first quarter valued at $190,000. Institutional investors and hedge funds own 90.80% of the company’s stock.
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Shares of LPL Financial Holdings (NASDAQ:LPLA) traded down 0.04% during mid-day trading on Wednesday, reaching $45.98. The company’s stock had a trading volume of 581,444 shares. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 22.00 and a beta of 1.82. LPL Financial Holdings has a 52 week low of $23.88 and a 52 week high of $46.62. The company’s 50-day moving average is $42.55 and its 200-day moving average is $40.49.
LPL Financial Holdings Company Profile
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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