William Blair Weighs in on LPL Financial Holdings Inc.’s Q3 2017 Earnings (LPLA)
LPL Financial Holdings Inc. (NASDAQ:LPLA) – Research analysts at William Blair lowered their Q3 2017 EPS estimates for LPL Financial Holdings in a research report issued to clients and investors on Monday. William Blair analyst C. Shutler now forecasts that the financial services provider will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.68. William Blair also issued estimates for LPL Financial Holdings’ Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.88 EPS and FY2019 earnings at $3.90 EPS.
Several other research firms have also weighed in on LPLA. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 price target on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Morgan Stanley restated an “underweight” rating and set a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. BidaskClub lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, October 18th. Finally, Nomura increased their price target on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $49.70.
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LPL Financial Holdings (LPLA) opened at 53.20 on Wednesday. The company has a market cap of $4.78 billion, a P/E ratio of 23.11 and a beta of 1.87. LPL Financial Holdings has a 12 month low of $30.77 and a 12 month high of $53.92. The stock has a 50 day moving average of $50.30 and a 200-day moving average of $44.61.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. purchased a new stake in LPL Financial Holdings in the third quarter valued at approximately $31,835,000. Nationwide Fund Advisors raised its stake in shares of LPL Financial Holdings by 799.4% during the third quarter. Nationwide Fund Advisors now owns 150,801 shares of the financial services provider’s stock worth $7,777,000 after acquiring an additional 134,035 shares in the last quarter. APG Asset Management N.V. purchased a new position in shares of LPL Financial Holdings during the third quarter worth approximately $2,867,000. Quantitative Systematic Strategies LLC raised its stake in shares of LPL Financial Holdings by 225.4% during the third quarter. Quantitative Systematic Strategies LLC now owns 31,740 shares of the financial services provider’s stock worth $1,637,000 after acquiring an additional 21,986 shares in the last quarter. Finally, 361 Capital LLC raised its stake in shares of LPL Financial Holdings by 322.0% during the second quarter. 361 Capital LLC now owns 93,104 shares of the financial services provider’s stock worth $3,953,000 after acquiring an additional 71,040 shares in the last quarter. 89.80% of the stock is currently owned by institutional investors and hedge funds.
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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