LPL Financial Holdings Inc. (LPLA) Expected to Post Quarterly Sales of $1.07 Billion
Equities analysts expect that LPL Financial Holdings Inc. (NASDAQ:LPLA) will announce sales of $1.07 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for LPL Financial Holdings’ earnings, with the highest sales estimate coming in at $1.08 billion and the lowest estimate coming in at $1.06 billion. LPL Financial Holdings posted sales of $1.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that LPL Financial Holdings will report full year sales of $1.07 billion for the current financial year, with estimates ranging from $4.26 billion to $4.32 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.02 billion per share, with estimates ranging from $4.93 billion to $5.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover LPL Financial Holdings.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last 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 analysts have recently weighed in on LPLA shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $48.00 price objective on shares of LPL Financial Holdings in a research note on Tuesday, June 6th. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Morgan Stanley reissued an “underweight” rating and set a $38.00 price objective (up previously from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. Finally, BidaskClub raised LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. LPL Financial Holdings has an average rating of “Hold” and a consensus target price of $48.20.
Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. raised its holdings in shares of LPL Financial Holdings by 15.1% during the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock valued at $18,742,000 after acquiring an additional 57,830 shares in the last quarter. Waratah Capital Advisors Ltd. bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $379,000. Legal & General Group Plc raised its holdings in shares of LPL Financial Holdings by 37.8% during the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock valued at $2,893,000 after acquiring an additional 19,923 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of LPL Financial Holdings during the second quarter valued at approximately $4,034,000. Finally, Bogle Investment Management L P DE bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $1,296,000. Institutional investors own 89.73% of the company’s stock.
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LPL Financial Holdings (NASDAQ LPLA) opened at 49.85 on Friday. LPL Financial Holdings has a 12-month low of $28.38 and a 12-month high of $50.06. The firm’s 50-day moving average is $46.22 and its 200 day moving average is $42.35. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 21.66 and a beta of 1.84.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were issued a dividend of $0.25 per share. 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 is presently 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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