LPL Financial Holdings Inc. (LPLA) Stock Price Down 3%
LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price fell 3% during mid-day trading on Thursday . The stock traded as low as $28.59 and last traded at $28.84, with a volume of 453,858 shares changing hands. The stock had previously closed at $29.73.
Several brokerages have recently issued reports on LPLA. SunTrust Banks Inc. lifted their price objective on LPL Financial Holdings from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, June 2nd. Citigroup Inc. reiterated a “hold” rating on shares of LPL Financial Holdings in a research note on Sunday, May 29th. Nomura reiterated a “neutral” rating and issued a $28.00 price objective on shares of LPL Financial Holdings in a research note on Friday, May 27th. Credit Suisse Group AG cut LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, August 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut LPL Financial Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. LPL Financial Holdings currently has an average rating of “Hold” and an average target price of $27.76.
The stock has a market capitalization of $2.62 billion and a P/E ratio of 16.38. The firm’s 50 day moving average price is $26.47 and its 200 day moving average price is $24.62.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.09. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1,000 million. The business’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts expect that LPL Financial Holdings Inc. will post $1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 9th. This represents a $1.00 annualized dividend and a yield of 3.40%.
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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