Equities analysts expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will post $1.12 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for LPL Financial’s earnings, with the lowest sales estimate coming in at $1.10 billion and the highest estimate coming in at $1.17 billion. LPL Financial posted sales of $1.01 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, February 1st.

According to Zacks, analysts expect that LPL Financial will report full-year sales of $1.12 billion for the current year, with estimates ranging from $4.21 billion to $4.34 billion. For the next year, analysts anticipate that the firm will post sales of $5.05 billion per share, with estimates ranging from $4.89 billion to $5.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover LPL Financial.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.46% and a return on equity of 25.44%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.58 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis.

Several research firms have recently issued reports on LPLA. Zacks Investment Research raised LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a research report on Friday, January 5th. SunTrust Banks restated a “buy” rating and set a $65.00 price target on shares of LPL Financial in a research note on Friday, October 27th. Nomura boosted their price objective on LPL Financial from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Credit Suisse Group started coverage on LPL Financial in a research note on Thursday, November 30th. They set an “outperform” rating and a $68.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.50.

LPL Financial (NASDAQ LPLA) opened at $61.61 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $5,560.00, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.88. LPL Financial has a 52-week low of $36.72 and a 52-week high of $61.95.

LPL Financial declared that its board has approved a share buyback program on Tuesday, December 5th that allows the company to repurchase $359.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In related news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of LPL Financial during the 2nd quarter worth approximately $104,000. The Manufacturers Life Insurance Company increased its position in shares of LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the last quarter. Comerica Bank bought a new position in shares of LPL Financial during the 3rd quarter valued at approximately $200,000. Virginia Retirement Systems ET AL bought a new position in shares of LPL Financial during the 3rd quarter valued at approximately $227,000. Finally, World Asset Management Inc bought a new position in shares of LPL Financial during the 3rd quarter valued at approximately $239,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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About LPL Financial

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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