Brokerages expect that LPL Financial Holdings Inc. (NASDAQ:LPLA) will announce sales of $1.07 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for LPL Financial Holdings’ earnings. The lowest sales estimate is $1.05 billion and the highest is $1.09 billion. LPL Financial Holdings posted sales of $1.02 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The business is scheduled to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that LPL Financial Holdings will report full-year sales of $1.07 billion for the current financial year, with estimates ranging from $4.14 billion to $4.28 billion. For the next financial year, analysts anticipate that the company will post sales of $4.30 billion per share, with estimates ranging from $4.19 billion to $4.47 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover LPL Financial Holdings.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.97%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis.
A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 target price on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. BidaskClub cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. Nomura reiterated a “hold” rating and set a $46.00 target price on shares of LPL Financial Holdings in a research note on Sunday, April 9th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $42.00 target price on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Finally, Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.73.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of LPL Financial Holdings stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the transaction, the insider now owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Capital Management LLC raised its position in LPL Financial Holdings by 13.1% in the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock worth $358,332,000 after buying an additional 1,038,731 shares during the last quarter. Vanguard Group Inc. raised its position in LPL Financial Holdings by 16.7% in the first quarter. Vanguard Group Inc. now owns 7,952,138 shares of the financial services provider’s stock worth $316,734,000 after buying an additional 1,136,785 shares during the last quarter. BlackRock Inc. raised its position in LPL Financial Holdings by 11,835.9% in the first quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock worth $139,907,000 after buying an additional 3,483,173 shares during the last quarter. Dimensional Fund Advisors LP raised its position in LPL Financial Holdings by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,414,114 shares of the financial services provider’s stock worth $56,324,000 after buying an additional 80,173 shares during the last quarter. Finally, State Street Corp raised its position in LPL Financial Holdings by 2.9% in the first quarter. State Street Corp now owns 1,219,612 shares of the financial services provider’s stock worth $48,583,000 after buying an additional 34,875 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “$1.07 Billion in Sales Expected for LPL Financial Holdings Inc. (NASDAQ:LPLA) This Quarter” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://stocknewstimes.com/2017/08/03/1-07-billion-in-sales-expected-for-lpl-financial-holdings-inc-nasdaqlpla-this-quarter.html.
LPL Financial Holdings (LPLA) traded down 1.12% during trading on Friday, hitting $45.09. 1,700,789 shares of the company’s stock traded hands. LPL Financial Holdings has a 52-week low of $24.73 and a 52-week high of $46.62. The company has a market cap of $4.07 billion, a PE ratio of 19.59 and a beta of 1.84. The company’s 50 day moving average price is $43.07 and its 200 day moving average price is $40.73.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio (DPR) 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.
Get a free copy of the Zacks research report on LPL Financial Holdings (LPLA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LPL Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
