LPL Financial Holdings Inc. (LPLA) to Post Q3 2016 Earnings of $0.38 Per Share, SunTrust Banks Forecasts
LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at SunTrust Banks dropped their Q3 2016 earnings per share (EPS) estimates for LPL Financial Holdings in a research note issued on Friday. SunTrust Banks analyst D. Mewhirter now expects that the brokerage will earn $0.38 per share for the quarter, down from their previous estimate of $0.39. SunTrust Banks currently has a “Neutral” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for LPL Financial Holdings’ Q1 2017 earnings at $0.53 EPS, Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.47 EPS and FY2017 earnings at $1.94 EPS.
Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $28.00 price target on shares of LPL Financial Holdings in a research note on Friday, July 29th. Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, September 13th. Nomura reissued a “hold” rating on shares of LPL Financial Holdings in a research note on Monday, July 11th. Finally, Citigroup Inc. reissued a “hold” rating on shares of LPL Financial Holdings in a research note on Sunday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.56.
LPL Financial Holdings (NASDAQ:LPLA) opened at 30.02 on Monday. LPL Financial Holdings has a 52 week low of $15.38 and a 52 week high of $48.00. The stock has a 50 day moving average of $28.30 and a 200-day moving average of $25.47. The firm has a market cap of $2.67 billion, a PE ratio of 16.73 and a beta of 1.69.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. LPL Financial Holdings had a net margin of 4.05% and a return on equity of 22.96%. The company earned $1.02 billion during the quarter, compared to analysts’ expectations of $1,000 million. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue was down 6.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Tuesday, August 9th. LPL Financial Holdings’s dividend payout ratio is currently 55.56%.
Several large investors have recently bought and sold shares of the company. WFG Advisors LP increased its stake in LPL Financial Holdings by 63.0% in the second quarter. WFG Advisors LP now owns 5,758 shares of the company’s stock worth $130,000 after buying an additional 2,226 shares in the last quarter. Seven Eight Capital LLC increased its position in LPL Financial Holdings by 295,600.0% in the first quarter. Seven Eight Capital LLC now owns 5,914 shares of the company’s stock worth $147,000 after buying an additional 5,912 shares during the period. Royal Bank of Canada increased its position in LPL Financial Holdings by 673.9% in the second quarter. Royal Bank of Canada now owns 7,507 shares of the company’s stock worth $169,000 after buying an additional 6,537 shares during the period. Victory Capital Management Inc. increased its position in LPL Financial Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,977 shares of the company’s stock worth $202,000 after buying an additional 1,342 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in LPL Financial Holdings during the second quarter worth approximately $203,000.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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