$1.45 Billion in Sales Expected for LPL Financial Holdings Inc (NASDAQ:LPLA) This Quarter

Equities research analysts expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will report sales of $1.45 billion for the current quarter, Zacks reports. Two analysts have provided estimates for LPL Financial’s earnings, with estimates ranging from $1.44 billion to $1.46 billion. LPL Financial reported sales of $1.32 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The business is expected to announce its next earnings results on Thursday, January 30th.

On average, analysts expect that LPL Financial will report full year sales of $5.57 billion for the current year, with estimates ranging from $5.45 billion to $5.64 billion. For the next financial year, analysts forecast that the firm will report sales of $5.93 billion, with estimates ranging from $5.88 billion to $5.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover LPL Financial.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share.

LPLA has been the subject of several recent research reports. BidaskClub upgraded LPL Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 16th. ValuEngine raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Morgan Stanley reduced their price objective on LPL Financial from $90.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, October 14th. Zacks Investment Research raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Citigroup increased their price objective on LPL Financial from $105.00 to $110.00 and gave the company a “sell” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. LPL Financial currently has a consensus rating of “Hold” and an average target price of $92.64.

In other LPL Financial news, Director John Andrew Kalbaugh sold 32,120 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $80.28, for a total value of $2,578,593.60. Following the completion of the sale, the director now directly owns 24,096 shares of the company’s stock, valued at approximately $1,934,426.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tracy Calder sold 13,181 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $91.60, for a total value of $1,207,379.60. Following the completion of the sale, the director now directly owns 8,089 shares of the company’s stock, valued at $740,952.40. The disclosure for this sale can be found here. Insiders sold a total of 149,600 shares of company stock valued at $12,483,871 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Calamos Advisors LLC increased its position in LPL Financial by 207.7% during the second quarter. Calamos Advisors LLC now owns 31,815 shares of the financial services provider’s stock worth $2,595,000 after buying an additional 21,475 shares during the period. GSA Capital Partners LLP raised its holdings in LPL Financial by 28.1% in the 2nd quarter. GSA Capital Partners LLP now owns 21,793 shares of the financial services provider’s stock valued at $1,778,000 after acquiring an additional 4,780 shares during the period. Eagle Asset Management Inc. raised its holdings in LPL Financial by 1.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 692,722 shares of the financial services provider’s stock valued at $56,733,000 after acquiring an additional 12,176 shares during the period. AMP Capital Investors Ltd grew its position in shares of LPL Financial by 103.1% during the 2nd quarter. AMP Capital Investors Ltd now owns 6,108 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 3,100 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of LPL Financial by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,144,447 shares of the financial services provider’s stock worth $338,063,000 after purchasing an additional 120,006 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

Shares of LPLA stock traded down $0.45 on Friday, hitting $91.90. The stock had a trading volume of 5,311 shares, compared to its average volume of 546,945. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.56. The business has a 50 day moving average price of $84.23 and a 200 day moving average price of $81.42. The company has a market cap of $7.46 billion, a PE ratio of 17.23, a P/E/G ratio of 0.86 and a beta of 1.43. LPL Financial has a one year low of $56.20 and a one year high of $92.87.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Wednesday, November 6th. LPL Financial’s dividend payout ratio (DPR) is presently 18.76%.

LPL Financial Company Profile

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.

Recommended Story: Call Option Volume

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

Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

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.