Zacks: Brokerages Expect LPL Financial Holdings Inc (NASDAQ:LPLA) Will Announce Quarterly Sales of $1.43 Billion

Equities analysts expect LPL Financial Holdings Inc (NASDAQ:LPLA) to announce $1.43 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for LPL Financial’s earnings, with estimates ranging from $1.42 billion to $1.44 billion. LPL Financial posted sales of $1.33 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Thursday, October 24th.

On average, analysts expect that LPL Financial will report full year sales of $5.61 billion for the current financial year, with estimates ranging from $5.46 billion to $5.68 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.01 billion, with estimates ranging from $5.86 billion to $6.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover LPL Financial.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $1.30 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. BidaskClub downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Credit Suisse Group upped their price objective on shares of LPL Financial from $108.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Compass Point downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price objective for the company. in a research report on Wednesday, May 8th. Finally, Citigroup reduced their price objective on shares of LPL Financial from $102.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.19.

LPLA stock traded down $3.61 during trading on Wednesday, reaching $71.06. The stock had a trading volume of 691,440 shares, compared to its average volume of 731,754. LPL Financial has a one year low of $52.03 and a one year high of $89.89. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a 50 day moving average price of $81.94. The stock has a market cap of $5.85 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 0.70 and a beta of 1.33.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, August 12th. LPL Financial’s dividend payout ratio is currently 18.76%.

In other news, insider Michelle Oroschakoff sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $84.51, for a total transaction of $507,060.00. Following the completion of the transaction, the insider now directly owns 15,563 shares of the company’s stock, valued at approximately $1,315,229.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $76.67, for a total transaction of $958,375.00. Following the transaction, the chief financial officer now directly owns 30,943 shares of the company’s stock, valued at $2,372,399.81. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd raised its position in shares of LPL Financial by 1.4% in the 2nd quarter. WINTON GROUP Ltd now owns 10,199 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 143 shares during the last quarter. Teza Capital Management LLC raised its position in shares of LPL Financial by 1.7% in the 1st quarter. Teza Capital Management LLC now owns 9,095 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 150 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of LPL Financial by 1.7% in the 2nd quarter. IHT Wealth Management LLC now owns 9,294 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 157 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of LPL Financial by 8.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 280 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of LPL Financial by 131.8% in the 1st quarter. Advisory Services Network LLC now owns 605 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 344 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.

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