LPL Financial Holdings Inc (LPLA) Expected to Post Quarterly Sales of $1.30 Billion

Brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to report sales of $1.30 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for LPL Financial’s earnings. The highest sales estimate is $1.32 billion and the lowest is $1.29 billion. LPL Financial posted sales of $1.06 billion during the same quarter last year, which suggests a positive year over year growth rate of 22.6%. The company is scheduled to report its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that LPL Financial will report full-year sales of $5.15 billion for the current fiscal year, with estimates ranging from $5.04 billion to $5.21 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.41 billion per share, with estimates ranging from $5.27 billion to $5.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow LPL Financial.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. LPL Financial had a return on equity of 35.98% and a net margin of 7.09%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.74 EPS. The business’s revenue was up 21.9% compared to the same quarter last year.

A number of brokerages have weighed in on LPLA. BidaskClub upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 21st. Goldman Sachs Group reiterated a “neutral” rating on shares of LPL Financial in a report on Thursday, May 31st. Zacks Investment Research downgraded LPL Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Morgan Stanley increased their price target on LPL Financial from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 30th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $83.00 price target on shares of LPL Financial in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $79.09.

In other news, Director Michelle Oroschakoff sold 6,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $67.11, for a total transaction of $402,660.00. Following the transaction, the director now owns 19,811 shares of the company’s stock, valued at approximately $1,329,516.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC bought a new position in shares of LPL Financial during the 2nd quarter worth about $111,000. Private Capital Group LLC lifted its position in LPL Financial by 266.9% in the 1st quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,583 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in LPL Financial in the 2nd quarter valued at about $205,000. Calamos Advisors LLC bought a new position in LPL Financial in the 2nd quarter valued at about $206,000. Finally, Cetera Advisors LLC bought a new position in LPL Financial in the 1st quarter valued at about $217,000. 94.57% of the stock is currently owned by institutional investors.

Shares of LPL Financial stock opened at $65.09 on Tuesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.44 and a quick ratio of 1.44. LPL Financial has a 1-year low of $48.13 and a 1-year high of $73.28. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 0.84 and a beta of 1.70.

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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