Brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to announce earnings per share (EPS) of $0.68 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for LPL Financial’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.73. LPL Financial posted earnings of $0.66 per share in the same quarter last year, which suggests a positive year over year growth rate of 3%. The business is expected to issue its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that LPL Financial will report full-year earnings of $3.78 per share for the current year, with EPS estimates ranging from $3.35 to $4.00. For the next fiscal year, analysts forecast that the firm will post earnings of $4.85 per share, with EPS estimates ranging from $4.64 to $5.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover LPL Financial.
A number of equities research analysts recently issued reports on LPLA shares. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 target price for the company in a report on Friday, January 5th. BidaskClub downgraded shares of LPL Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 16th. Morgan Stanley upgraded shares of LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 target price for the company in a report on Wednesday, January 3rd. Citigroup boosted their target price on shares of LPL Financial from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $60.00 target price (up from $52.00) on shares of LPL Financial in a report on Thursday, January 4th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $68.36.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC purchased a new stake in LPL Financial during the third quarter worth approximately $316,000. Wells Fargo & Company MN lifted its position in shares of LPL Financial by 88.5% during the third quarter. Wells Fargo & Company MN now owns 342,284 shares of the financial services provider’s stock worth $17,653,000 after purchasing an additional 160,738 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of LPL Financial by 124.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 502,352 shares of the financial services provider’s stock worth $28,704,000 after purchasing an additional 278,713 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of LPL Financial during the second quarter worth $1,273,000. Finally, JPMorgan Chase & Co. lifted its position in shares of LPL Financial by 72.1% during the third quarter. JPMorgan Chase & Co. now owns 656,891 shares of the financial services provider’s stock worth $33,882,000 after purchasing an additional 275,138 shares in the last quarter. Institutional investors own 92.01% of the company’s stock.
LPL Financial (NASDAQ LPLA) traded down $0.80 during trading on Wednesday, reaching $65.19. 819,500 shares of the company were exchanged, compared to its average volume of 975,615. LPL Financial has a 52-week low of $37.38 and a 52-week high of $66.64. The stock has a market capitalization of $5,941.83, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.74. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.47.
LPL Financial announced that its board has initiated a stock repurchase program on Tuesday, December 5th that allows the company to buyback $359.00 million in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.00 annualized dividend and a yield of 1.53%. LPL Financial’s dividend payout ratio is currently 38.76%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.