Zacks: Brokerages Expect LPL Financial Holdings Inc (LPLA) Will Post Quarterly Sales of $1.18 Billion

Wall Street analysts expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will report sales of $1.18 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for LPL Financial’s earnings, with the highest sales estimate coming in at $1.20 billion and the lowest estimate coming in at $1.16 billion. LPL Financial reported sales of $1.04 billion in the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The business is scheduled to report its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that LPL Financial will report full year sales of $1.18 billion for the current year, with estimates ranging from $4.81 billion to $5.12 billion. For the next financial year, analysts expect that the business will post sales of $5.20 billion per share, with estimates ranging from $4.98 billion to $5.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow LPL Financial.

A number of equities analysts have commented on LPLA shares. Citigroup boosted their price objective on shares of LPL Financial from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Nomura boosted their price objective on shares of LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $66.00 price objective on shares of LPL Financial in a report on Friday, December 22nd. SunTrust Banks reiterated a “buy” rating and issued a $65.00 price objective on shares of LPL Financial in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.00.

In other news, Director William P. Jr. Morrissey sold 20,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $62.74, for a total value of $1,254,800.00. Following the completion of the sale, the director now owns 37,541 shares of the company’s stock, valued at approximately $2,355,322.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The disclosure for this sale can be found here. Insiders sold a total of 33,742 shares of company stock valued at $2,062,537 in the last three months. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. Hudson Bay Capital Management LP bought a new stake in shares of LPL Financial during the 4th quarter valued at about $16,173,000. Sovarnum Capital L.P. bought a new stake in shares of LPL Financial during the 4th quarter valued at about $5,543,000. Ramsey Quantitative Systems bought a new stake in shares of LPL Financial during the 4th quarter valued at about $279,000. Navellier & Associates Inc bought a new stake in shares of LPL Financial during the 4th quarter valued at about $274,000. Finally, Eaton Vance Management grew its position in shares of LPL Financial by 107.2% during the 4th quarter. Eaton Vance Management now owns 206,073 shares of the financial services provider’s stock valued at $11,775,000 after buying an additional 106,602 shares during the last quarter. 89.86% of the stock is owned by institutional investors.

LPL Financial (NASDAQ LPLA) opened at $62.69 on Tuesday. 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 firm has a market cap of $5,612.53, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.10 and a beta of 1.74. LPL Financial has a 1-year low of $37.38 and a 1-year high of $64.71.

LPL Financial announced that its board has authorized a stock buyback program on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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LPL Financial Company Profile

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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Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

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