LPL Financial (NASDAQ:LPLA) is scheduled to release its earnings data after the market closes on Thursday, October 24th. Analysts expect LPL Financial to post earnings of $1.64 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
LPL Financial (NASDAQ:LPLA) last announced its earnings results 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, analysts expect LPL Financial to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Shares of NASDAQ:LPLA opened at $77.32 on Wednesday. The company’s 50 day moving average price is $78.84 and its two-hundred day moving average price is $79.39. LPL Financial has a 12-month low of $52.03 and a 12-month high of $89.89. The firm has a market cap of $6.39 billion, a PE ratio of 14.51, a PEG ratio of 0.74 and a beta of 1.37. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.55.
A number of brokerages have issued reports on LPLA. ValuEngine upgraded shares of LPL Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, October 11th. BidaskClub upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Jefferies Financial Group began coverage on shares of LPL Financial in a research report on Tuesday, September 17th. They set a “buy” rating and a $96.00 target price on the stock. Citigroup decreased their target price on shares of LPL Financial from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Morgan Stanley cut their price target on shares of LPL Financial from $90.00 to $84.00 and set an “equal weight” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. LPL Financial has an average rating of “Hold” and a consensus price target of $88.16.
In other news, CEO Dan H. Arnold sold 48,159 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $80.00, for a total transaction of $3,852,720.00. Following the completion of the sale, the chief executive officer now owns 227,784 shares of the company’s stock, valued at approximately $18,222,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 19,747 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $75.29, for a total transaction of $1,486,751.63. Following the sale, the chief executive officer now directly owns 248,593 shares of the company’s stock, valued at approximately $18,716,566.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,526 shares of company stock valued at $9,234,790. 2.20% of the stock is currently owned by insiders.
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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