LPL Financial Holdings Inc. (LPLA) Expected to Announce Quarterly Sales of $1.07 Billion
Equities analysts predict that LPL Financial Holdings Inc. (NASDAQ:LPLA) will announce $1.07 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for LPL Financial Holdings’ earnings, with the lowest sales estimate coming in at $1.06 billion and the highest estimate coming in at $1.08 billion. LPL Financial Holdings reported sales of $1.02 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The business is scheduled to announce its next 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 anticipate that the company will post sales of $5.02 billion per share, with estimates ranging from $4.93 billion to $5.14 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover LPL Financial Holdings.
LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS.
LPLA has been the subject of several research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 price target on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Morgan Stanley restated an “underweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. BidaskClub downgraded shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. boosted their price target on shares of LPL Financial Holdings from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Finally, Nomura boosted their price target on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.20.
Institutional investors have recently modified their holdings of the company. Elkfork Partners LLC purchased a new position in shares of LPL Financial Holdings during the first quarter worth approximately $190,000. Waratah Capital Advisors Ltd. purchased a new position in shares of LPL Financial Holdings during the first quarter worth approximately $379,000. Legal & General Group Plc increased its position in shares of LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after buying an additional 19,923 shares during the last quarter. Bogle Investment Management L P DE purchased a new position in shares of LPL Financial Holdings during the first quarter worth approximately $1,296,000. Finally, Goldman Sachs Group Inc. increased its position in shares of LPL Financial Holdings by 36.4% in the first quarter. Goldman Sachs Group Inc. now owns 947,482 shares of the financial services provider’s stock worth $37,738,000 after buying an additional 252,730 shares during the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.
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Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 47.35 on Friday. The company has a market cap of $4.26 billion, a PE ratio of 20.57 and a beta of 1.84. LPL Financial Holdings has a 12 month low of $28.38 and a 12 month high of $48.56. The firm’s 50-day moving average price is $45.66 and its 200 day moving average price is $41.82.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid 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 2.11%. LPL Financial Holdings’s payout ratio 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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