$1.19 Billion in Sales Expected for LPL Financial (LPLA) This Quarter

Wall Street analysts forecast that LPL Financial (NASDAQ:LPLA) will announce $1.19 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for LPL Financial’s earnings. The highest sales estimate is $1.20 billion and the lowest is $1.18 billion. LPL Financial posted sales of $1.04 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, May 3rd.

On average, analysts expect that LPL Financial will report full-year sales of $4.96 billion for the current fiscal year, with estimates ranging from $4.83 billion to $5.12 billion. For the next financial year, analysts anticipate that the company will report sales of $5.19 billion per share, with estimates ranging from $5.01 billion to $5.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for LPL Financial.

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LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.52. LPL Financial had a net margin of 5.58% and a return on equity of 29.42%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion.

Several research firms have recently commented on LPLA. Sanford C. Bernstein began coverage on LPL Financial in a research note on Monday, April 9th. They issued an “outperform” rating and a $75.00 price objective for the company. BidaskClub lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. ValuEngine lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Zacks Investment Research lowered LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Morgan Stanley upped their price objective on LPL Financial from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $70.91.

In other LPL Financial news, CEO Dan H. Arnold sold 4,004 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $65.20, for a total transaction of $261,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marco Hellman sold 1,150,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $62.12, for a total transaction of $71,438,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,469,435 shares of company stock valued at $92,312,374 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of LPL Financial by 5.8% during the 4th quarter. Amalgamated Bank now owns 17,666 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 973 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of LPL Financial by 140.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,278 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of LPL Financial by 0.9% during the 4th quarter. Teachers Advisors LLC now owns 214,827 shares of the financial services provider’s stock valued at $12,275,000 after purchasing an additional 1,982 shares during the last quarter. Finally, American International Group Inc. bought a new position in shares of LPL Financial during the 4th quarter valued at about $119,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Shares of LPLA opened at $61.35 on Friday. The firm has a market cap of $5,462.25, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.03 and a beta of 1.62. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47. LPL Financial has a 1-year low of $37.92 and a 1-year high of $66.64.

The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 8th. LPL Financial’s dividend payout ratio is currently 33.33%.

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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.

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

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