LPL Financial Holdings Inc. Forecasted to Earn FY2017 Earnings of $2.50 Per Share (LPLA)
LPL Financial Holdings Inc. (NASDAQ:LPLA) – Research analysts at SunTrust Banks increased their FY2017 earnings per share estimates for shares of LPL Financial Holdings in a report released on Wednesday. SunTrust Banks analyst D. Mewhirter now anticipates that the financial services provider will post earnings per share of $2.50 for the year, up from their prior forecast of $2.49. SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for LPL Financial Holdings’ Q4 2017 earnings at $0.64 EPS, Q1 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.94 EPS and FY2018 earnings at $3.44 EPS.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis.
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A number of other analysts have also commented on the company. Zacks Investment Research lowered LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. J P Morgan Chase & Co reissued a “neutral” rating and issued a $51.00 target price (up previously from $48.00) on shares of LPL Financial Holdings in a report on Friday, August 18th. Nomura lifted their target price on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. BidaskClub lowered LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $38.00 target price (up previously from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.20.
LPL Financial Holdings (NASDAQ LPLA) opened at 49.85 on Friday. LPL Financial Holdings has a 52-week low of $28.38 and a 52-week high of $50.06. The stock has a market cap of $4.48 billion, a PE ratio of 21.66 and a beta of 1.84. The firm has a 50-day moving average price of $46.22 and a 200 day moving average price of $42.35.
Several hedge funds have recently added to or reduced their stakes in LPLA. Mckinley Capital Management LLC Delaware purchased a new position in shares of LPL Financial Holdings in the 2nd quarter worth $104,000. Public Employees Retirement Association of Colorado boosted its stake in shares of LPL Financial Holdings by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after buying an additional 52 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of LPL Financial Holdings by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after buying an additional 211 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of LPL Financial Holdings in the 1st quarter worth $171,000. Finally, Meadow Creek Investment Management LLC purchased a new position in shares of LPL Financial Holdings in the 1st quarter worth $242,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. LPL Financial Holdings’s dividend payout ratio (DPR) is currently 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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