Q3 2020 Earnings Forecast for LPL Financial Holdings Inc Issued By William Blair (NASDAQ:LPLA)

LPL Financial Holdings Inc (NASDAQ:LPLA) – Analysts at William Blair upped their Q3 2020 earnings per share (EPS) estimates for LPL Financial in a research report issued on Friday, July 10th. William Blair analyst C. Shutler now forecasts that the financial services provider will earn $1.32 per share for the quarter, up from their previous estimate of $1.26. William Blair also issued estimates for LPL Financial’s Q4 2020 earnings at $1.25 EPS.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.36. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.44 billion. LPL Financial had a net margin of 9.80% and a return on equity of 59.55%. LPL Financial’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS.

Several other analysts have also recently issued reports on the stock. TheStreet upgraded shares of LPL Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, May 26th. Goldman Sachs Group upgraded shares of LPL Financial from a “buy” rating to a “conviction-buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, March 24th. Zacks Investment Research upgraded shares of LPL Financial from a “sell” rating to a “hold” rating and set a $55.00 target price on the stock in a research note on Tuesday, May 12th. Wells Fargo & Co increased their target price on shares of LPL Financial from $70.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Finally, Credit Suisse Group increased their target price on shares of LPL Financial from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. LPL Financial presently has a consensus rating of “Buy” and an average price target of $84.10.

NASDAQ LPLA opened at $76.47 on Monday. LPL Financial has a 1 year low of $32.01 and a 1 year high of $99.60. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $6.04 billion, a PE ratio of 11.36 and a beta of 1.59. The company’s 50 day simple moving average is $77.18 and its two-hundred day simple moving average is $74.85.

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in LPL Financial during the 4th quarter valued at $90,317,000. Samlyn Capital LLC lifted its position in shares of LPL Financial by 29.1% in the 4th quarter. Samlyn Capital LLC now owns 3,443,712 shares of the financial services provider’s stock worth $317,683,000 after purchasing an additional 775,632 shares during the period. Fairview Capital Investment Management LLC lifted its position in shares of LPL Financial by 44.0% in the 1st quarter. Fairview Capital Investment Management LLC now owns 2,061,553 shares of the financial services provider’s stock worth $112,210,000 after purchasing an additional 630,173 shares during the period. Bank of New York Mellon Corp lifted its position in shares of LPL Financial by 19.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,166,784 shares of the financial services provider’s stock worth $117,940,000 after purchasing an additional 359,305 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of LPL Financial by 499.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 419,100 shares of the financial services provider’s stock worth $22,812,000 after purchasing an additional 349,164 shares during the period. 93.97% of the stock is currently owned by institutional investors.

In related news, CEO Dan H. Arnold sold 20,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $85.70, for a total transaction of $1,714,000.00. Following the transaction, the chief executive officer now owns 232,159 shares of the company’s stock, valued at approximately $19,896,026.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Steinmeier sold 5,418 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $86.02, for a total transaction of $466,056.36. Following the transaction, the director now directly owns 57,175 shares in the company, valued at approximately $4,918,193.50. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate 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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Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

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