$1.07 Billion in Sales Expected for LPL Financial Holdings Inc. (LPLA) This Quarter
Brokerages expect LPL Financial Holdings Inc. (NASDAQ:LPLA) to announce $1.07 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for LPL Financial Holdings’ earnings, with the highest sales estimate coming in at $1.09 billion and the lowest estimate coming in at $1.06 billion. LPL Financial Holdings posted sales of $1.02 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The firm is expected to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that LPL Financial Holdings will report full year sales of $1.07 billion for the current financial year, with estimates ranging from $4.14 billion to $4.28 billion. For the next year, analysts expect that the company will post sales of $4.31 billion per share, with estimates ranging from $4.21 billion to $4.47 billion. Zacks Investment Research’s sales calculations are a mean 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, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 4.5% compared to the same quarter last year.
A number of research analysts have weighed in on LPLA shares. Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price objective on shares of LPL Financial Holdings in a research note on Tuesday, June 6th. Citigroup Inc. raised their price objective on shares of LPL Financial Holdings from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Nomura upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $51.00 in a report on Friday, April 28th. Finally, Instinet upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $51.00 in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.73.
Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 46.07 on Wednesday. The firm has a 50-day moving average of $44.32 and a 200 day moving average of $41.23. LPL Financial Holdings has a 52 week low of $27.48 and a 52 week high of $47.00. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 20.01 and a beta of 1.84.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. LPL Financial Holdings’s dividend payout ratio is currently 43.48%.
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 shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the sale, the insider now owns 49,691 shares in the company, valued at $1,954,843.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. FMR LLC bought a new stake in LPL Financial Holdings during the fourth quarter worth about $372,000. James Investment Research Inc. bought a new stake in LPL Financial Holdings during the first quarter worth about $142,000. ProShare Advisors LLC increased its stake in LPL Financial Holdings by 6.8% in the first quarter. ProShare Advisors LLC now owns 11,656 shares of the financial services provider’s stock worth $464,000 after buying an additional 744 shares during the period. Glen Harbor Capital Management LLC bought a new stake in LPL Financial Holdings during the first quarter worth about $294,000. Finally, Tyers Asset Management LLC bought a new stake in LPL Financial Holdings during the first quarter worth about $138,000. Institutional investors and hedge funds own 90.76% of the company’s stock.
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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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