Zacks Research Forecasts Stronger Earnings for LPL Financial

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for LPL Financial in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $15.87 for the year, up from their previous estimate of $15.67. The consensus estimate for LPL Financial’s current full-year earnings is $16.08 per share. Zacks Research also issued estimates for LPL Financial’s FY2026 earnings at $20.49 EPS.

LPLA has been the subject of several other reports. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 30th. Morgan Stanley increased their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, TD Cowen increased their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Stock Up 1.1 %

Shares of LPL Financial stock opened at $326.85 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 52-week low of $187.19 and a 52-week high of $327.55. The company has a market capitalization of $24.47 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.58 and a beta of 0.85. The company has a 50 day moving average of $263.32 and a 200 day moving average of $252.97.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the company earned $3.74 EPS. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LPLA. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial during the second quarter worth $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the 2nd quarter worth $28,000. Crewe Advisors LLC boosted its holdings in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in LPL Financial during the third quarter worth about $31,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.