LPL Financial Holdings Inc. (LPLA) Forecasted to Post Q3 2017 Earnings of $0.59 Per Share
LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for LPL Financial Holdings in a report issued on Wednesday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will post earnings per share of $0.59 for the quarter, down from their prior forecast of $0.66. SunTrust Banks has a “Buy” rating and a $55.00 price target on the stock. SunTrust Banks also issued estimates for LPL Financial Holdings’ Q4 2017 earnings at $0.63 EPS and FY2017 earnings at $2.49 EPS.
A number of other research analysts have also issued reports on the stock. Nomura increased their target price on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. BidaskClub lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley restated an “underweight” rating and set a $38.00 target price (up previously from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. LPL Financial Holdings currently has an average rating of “Buy” and an average target price of $44.55.
LPL Financial Holdings (NASDAQ:LPLA) opened at 46.13 on Friday. The firm’s 50-day moving average is $44.58 and its 200-day moving average is $41.30. The company has a market cap of $4.15 billion, a PE ratio of 20.04 and a beta of 1.84. LPL Financial Holdings has a 52 week low of $27.65 and a 52 week high of $48.56.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share.
Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new stake in LPL Financial Holdings during the second quarter valued at about $399,202,000. Janus Capital Management LLC raised its stake 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. Vanguard Group Inc. raised its stake in LPL Financial Holdings by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after buying an additional 827,372 shares in the last quarter. BlackRock Inc. raised its stake in LPL Financial Holdings by 1.3% in the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock valued at $151,098,000 after buying an additional 46,013 shares in the last quarter. Finally, Samlyn Capital LLC raised its stake in LPL Financial Holdings by 55.6% in the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after buying an additional 528,780 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.
In related news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be given a dividend of $0.25 per share. 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 43.48%.
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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