$1.76 Earnings Per Share Expected for LPL Financial Holdings Inc (LPLA) This Quarter
Wall Street brokerages expect LPL Financial Holdings Inc (NASDAQ:LPLA) to post earnings per share (EPS) of $1.76 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for LPL Financial’s earnings, with the highest EPS estimate coming in at $1.81 and the lowest estimate coming in at $1.71. LPL Financial posted earnings per share of $1.30 during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that LPL Financial will report full-year earnings of $7.08 per share for the current financial year, with EPS estimates ranging from $7.03 to $7.16. For the next financial year, analysts expect that the company will post earnings of $7.49 per share, with EPS estimates ranging from $7.17 to $7.86. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow LPL Financial.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.33. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.35 billion. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. LPL Financial’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS.
In other news, CEO Dan H. Arnold sold 7,113 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $77.34, for a total value of $550,119.42. Following the transaction, the chief executive officer now owns 229,761 shares of the company’s stock, valued at approximately $17,769,715.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tracy Calder sold 500 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.25, for a total transaction of $42,125.00. The disclosure for this sale can be found here. Insiders sold a total of 47,034 shares of company stock worth $3,560,188 in the last three months. Insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Teza Capital Management LLC grew its holdings in shares of LPL Financial by 1.7% during the 1st quarter. Teza Capital Management LLC now owns 9,095 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 150 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of LPL Financial by 5.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 168 shares during the last quarter. CWM LLC grew its holdings in shares of LPL Financial by 66.7% during the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 178 shares during the last quarter. Bank of The West grew its holdings in shares of LPL Financial by 1.7% during the 4th quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 205 shares during the last quarter. Finally, Kalos Management Inc. grew its holdings in shares of LPL Financial by 1.7% during the 4th quarter. Kalos Management Inc. now owns 14,133 shares of the financial services provider’s stock valued at $863,000 after purchasing an additional 236 shares during the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.
LPL Financial stock traded down $3.11 during midday trading on Monday, reaching $79.78. 618,081 shares of the stock were exchanged, compared to its average volume of 787,246. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $6.66 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.79 and a beta of 1.61. LPL Financial has a 52 week low of $52.03 and a 52 week high of $85.00.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, May 17th. LPL Financial’s payout ratio is 18.76%.
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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