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.
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.
Recommended Story: What is a Fiduciary?
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.