LPL Financial Holdings Inc (LPLA) Expected to Announce Quarterly Sales of $1.40 Billion

Equities research analysts forecast that LPL Financial Holdings Inc (NASDAQ:LPLA) will announce sales of $1.40 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for LPL Financial’s earnings. The lowest sales estimate is $1.38 billion and the highest is $1.42 billion. LPL Financial posted sales of $1.30 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that LPL Financial will report full-year sales of $5.53 billion for the current financial year, with estimates ranging from $5.29 billion to $5.70 billion. For the next financial year, analysts expect that the business will post sales of $5.86 billion, with estimates ranging from $5.50 billion to $6.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow LPL Financial.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.33. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. LPL Financial’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share.

Several equities analysts recently weighed in on LPLA shares. BidaskClub raised shares of LPL Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 19th. Citigroup raised their target price on shares of LPL Financial to $100.00 and gave the company a “buy” rating in a research note on Friday, February 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $91.00 target price on shares of LPL Financial in a research note on Monday, February 4th. Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Thursday, February 7th. Finally, Morgan Stanley set a $70.00 target price on shares of LPL Financial and gave the company a “hold” rating in a research note on Friday, February 8th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $83.52.

In other LPL Financial news, insider Tracy Calder sold 500 shares of LPL Financial stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.25, for a total value of $42,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 7,113 shares of LPL Financial stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $77.34, for a total transaction of $550,119.42. Following the completion of the transaction, the chief executive officer now directly owns 229,761 shares of the company’s stock, valued at $17,769,715.74. The disclosure for this sale can be found here. Insiders sold a total of 87,034 shares of company stock valued at $6,637,788 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. boosted its stake in shares of LPL Financial by 5.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 168 shares during the period. CWM LLC boosted its stake in shares of LPL Financial by 66.7% during the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 178 shares during the period. Bank of The West boosted its stake in shares of LPL Financial by 1.7% during the 4th quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 205 shares during the period. Kalos Management Inc. boosted its stake in shares of LPL Financial by 1.7% during the 4th quarter. Kalos Management Inc. now owns 14,133 shares of the financial services provider’s stock worth $863,000 after purchasing an additional 236 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of LPL Financial by 8.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 280 shares during the period. 94.29% of the stock is owned by hedge funds and other institutional investors.

LPLA traded up $0.90 during trading on Wednesday, hitting $82.89. 733,550 shares of the company traded hands, compared to its average volume of 691,250. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.79 and a beta of 1.61. LPL Financial has a 1 year low of $52.03 and a 1 year high of $85.00. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.34 and a current ratio of 1.40.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. LPL Financial’s payout ratio is currently 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.

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

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