$1.65 Earnings Per Share Expected for LPL Financial Holdings Inc (NASDAQ:LPLA) This Quarter

Wall Street brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to report earnings per share (EPS) of $1.65 for the current quarter, according to Zacks. Two analysts have made estimates for LPL Financial’s earnings, with estimates ranging from $1.63 to $1.68. LPL Financial reported earnings of $1.49 per share during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, January 30th.

On average, analysts expect that LPL Financial will report full year earnings of $7.14 per share for the current fiscal year, with EPS estimates ranging from $7.13 to $7.17. For the next financial year, analysts expect that the firm will report earnings of $7.44 per share, with EPS estimates ranging from $7.06 to $7.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow LPL Financial.

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

LPLA has been the topic of a number of recent research reports. ValuEngine downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Wolfe Research set a $110.00 price target on shares of LPL Financial and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Co raised their price target on shares of LPL Financial from $81.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Wednesday, January 1st. Finally, Credit Suisse Group restated a “buy” rating and issued a $98.00 price target on shares of LPL Financial in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial presently has an average rating of “Buy” and an average price target of $99.27.

Shares of LPL Financial stock traded up $0.88 during trading hours on Friday, reaching $98.51. The company’s stock had a trading volume of 3,094 shares, compared to its average volume of 411,171. The company’s 50 day simple moving average is $93.32 and its 200 day simple moving average is $83.96. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.33 and a current ratio of 1.33. LPL Financial has a one year low of $67.11 and a one year high of $99.06. The stock has a market cap of $7.89 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.42.

In other LPL Financial news, Director Michelle Oroschakoff sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $85.95, for a total transaction of $429,750.00. Following the transaction, the director now owns 14,563 shares of the company’s stock, valued at approximately $1,251,689.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tracy Calder sold 13,181 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $91.60, for a total transaction of $1,207,379.60. Following the transaction, the director now directly owns 8,089 shares in the company, valued at approximately $740,952.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,024 shares of company stock worth $7,963,444. 2.20% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in LPLA. First Allied Advisory Services Inc. acquired a new position in LPL Financial during the 2nd quarter valued at about $274,000. Renaissance Technologies LLC increased its stake in LPL Financial by 72.8% during the 2nd quarter. Renaissance Technologies LLC now owns 31,800 shares of the financial services provider’s stock valued at $2,594,000 after buying an additional 13,400 shares during the period. Northern Trust Corp increased its stake in LPL Financial by 10.4% during the 2nd quarter. Northern Trust Corp now owns 425,998 shares of the financial services provider’s stock valued at $34,749,000 after buying an additional 40,226 shares during the period. Commonwealth Bank of Australia increased its stake in LPL Financial by 49.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 11,500 shares of the financial services provider’s stock valued at $938,000 after buying an additional 3,800 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in LPL Financial by 3.7% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 28,300 shares of the financial services provider’s stock valued at $2,308,000 after buying an additional 1,000 shares during the period. 93.75% of the stock is currently 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.

See Also: What is an overbought condition?

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

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.