LPL Financial (NASDAQ:LPLA) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect LPL Financial to post earnings of $1.64 per share for the quarter. Individual interested in listening to 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, beating the 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 business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $1.30 earnings per share. LPL Financial’s revenue for the quarter was up 7.0% on a year-over-year basis. 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 LPL Financial stock opened at $77.32 on Wednesday. LPL Financial has a 1 year low of $52.03 and a 1 year 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 debt-to-equity ratio of 2.55, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50 day simple moving average of $78.84 and a two-hundred day simple moving average of $79.39.
In other news, insider Michelle Oroschakoff sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $71.67, for a total value of $358,350.00. Following the completion of the sale, the insider now directly owns 14,297 shares in the company, valued at approximately $1,024,665.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 48,159 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 227,784 shares of the company’s stock, valued at $18,222,720. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,526 shares of company stock valued at $9,234,790. Company insiders own 2.20% of the company’s stock.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Citigroup dropped their target price on shares of LPL Financial from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Jefferies Financial Group assumed 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 for the company. Credit Suisse Group lowered their price objective on shares of LPL Financial from $110.00 to $98.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Finally, ValuEngine upgraded shares of LPL Financial from a “strong sell” rating to a “sell” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $88.16.
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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