Brokerages expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will report earnings of $0.37 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for LPL Financial’s earnings, with estimates ranging from $0.32 to $0.44. LPL Financial posted earnings of $0.46 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.6%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Thursday, February 1st.

On average, analysts expect that LPL Financial will report full year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.22 to $2.34. For the next year, analysts anticipate that the company will post earnings of $3.39 per share, with EPS estimates ranging from $2.79 to $4.03. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow LPL Financial.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Credit Suisse Group assumed coverage on shares of LPL Financial in a research note on Thursday, November 30th. They set an “outperform” rating and a $68.00 target price for the company. Wells Fargo & Co reissued a “market perform” rating and set a $60.00 price target (up previously from $52.00) on shares of LPL Financial in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, ValuEngine downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $57.50.

LPL Financial (LPLA) traded up $0.61 during mid-day trading on Monday, reaching $60.33. 920,459 shares of the company’s stock traded hands, compared to its average volume of 821,720. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial has a 12-month low of $36.72 and a 12-month high of $60.59. The company has a market capitalization of $5,420.00, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.36 and a beta of 1.88.

LPL Financial announced that its board has authorized a stock repurchase program on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In related news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new stake in LPL Financial in the second quarter worth about $104,000. The Manufacturers Life Insurance Company lifted its holdings in LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the period. Comerica Bank acquired a new stake in LPL Financial in the third quarter worth about $200,000. Virginia Retirement Systems ET AL acquired a new stake in LPL Financial in the third quarter worth about $227,000. Finally, World Asset Management Inc acquired a new stake in LPL Financial in the third quarter worth about $239,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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About LPL Financial

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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