Equities research analysts forecast that LPL Financial Holdings Inc (NASDAQ:LPLA) will report sales of $1.33 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LPL Financial’s earnings, with the highest sales estimate coming in at $1.34 billion and the lowest estimate coming in at $1.32 billion. LPL Financial reported sales of $1.24 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The business is scheduled to report its next quarterly earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that LPL Financial will report full year sales of $5.34 billion for the current financial year, with estimates ranging from $5.15 billion to $5.49 billion. For the next year, analysts forecast that the firm will report sales of $5.62 billion, with estimates ranging from $5.35 billion to $5.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover LPL Financial.
Get LPL Financial alerts:LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.12. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.36 billion. LPL Financial had a return on equity of 46.29% and a net margin of 8.47%.
LPLA has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, February 13th. Credit Suisse Group restated a “buy” rating and set a $91.00 price target on shares of LPL Financial in a research report on Monday, February 4th. Citigroup raised their price target on LPL Financial to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Finally, Goldman Sachs Group began coverage on LPL Financial in a research report on Tuesday, November 27th. They set a “conviction-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. LPL Financial has a consensus rating of “Buy” and a consensus price target of $80.44.
NASDAQ:LPLA traded up $0.12 during mid-day trading on Thursday, hitting $76.00. The stock had a trading volume of 543,648 shares, compared to its average volume of 902,417. The company has a market cap of $6.58 billion, a PE ratio of 14.26, a P/E/G ratio of 0.80 and a beta of 1.59. LPL Financial has a 52 week low of $52.03 and a 52 week high of $79.34. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.43.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. LPL Financial’s dividend payout ratio is presently 18.76%.
In other LPL Financial news, insider Thomas Gooley sold 29,876 shares of the business’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $60.72, for a total value of $1,814,070.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Riepe sold 4,517 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $60.69, for a total transaction of $274,136.73. Following the completion of the transaction, the director now owns 51,168 shares of the company’s stock, valued at approximately $3,105,385.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,205 shares of company stock valued at $14,011,530. Company insiders own 2.60% of the company’s stock.
Several large investors have recently bought and sold shares of LPLA. CWM LLC lifted its holdings in shares of LPL Financial by 66.7% during the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 178 shares during the last quarter. First Hawaiian Bank purchased a new stake in LPL Financial during the 3rd quarter worth about $188,000. Contravisory Investment Management Inc. raised its holdings in shares of LPL Financial by 5.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 168 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of LPL Financial in the 4th quarter valued at about $208,000. Finally, Greenleaf Trust purchased a new stake in shares of LPL Financial in the 3rd quarter valued at about $254,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
About LPL Financial
LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
Featured Article: Understanding Compound Annual Growth Rate (CAGR)
Get a free copy of the Zacks research report on LPL Financial (LPLA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment