LPL Financial Holdings Inc. to Post Q4 2024 Earnings of $4.26 Per Share, Zacks Research Forecasts (NASDAQ:LPLA)

Posted by on Jun 15th, 2023

LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) – Equities research analysts at Zacks Research increased their Q4 2024 earnings per share estimates for shares of LPL Financial in a research report issued to clients and investors on Tuesday, June 13th. Zacks Research analyst S. Shah now forecasts that the financial services provider will earn $4.26 per share for the quarter, up from their prior estimate of $4.25. The consensus estimate for LPL Financial’s current full-year earnings is $16.74 per share.

LPL Financial (NASDAQ:LPLA – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.14. LPL Financial had a return on equity of 55.42% and a net margin of 11.74%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.39 billion.

A number of other equities research analysts have also recently issued reports on LPLA. Citigroup reduced their price objective on LPL Financial from $290.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. StockNews.com started coverage on LPL Financial in a research note on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price target on LPL Financial from $256.00 to $238.00 and set a “neutral” rating for the company in a research note on Monday, April 3rd. JMP Securities restated a “market outperform” rating and set a $290.00 price objective on shares of LPL Financial in a research report on Monday, March 13th. Finally, Credit Suisse Group lowered their price objective on shares of LPL Financial from $205.00 to $192.00 in a research report on Friday, April 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Hold” and an average price target of $236.00.

LPL Financial Trading Up 2.8 %

LPL Financial stock opened at $205.61 on Wednesday. LPL Financial has a 52 week low of $169.68 and a 52 week high of $271.56. The stock has a market capitalization of $15.97 billion, a P/E ratio of 15.79, a PEG ratio of 0.60 and a beta of 0.90. The stock has a 50-day simple moving average of $197.83 and a 200 day simple moving average of $215.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.73 and a current ratio of 1.73.

Institutional Trading of LPL Financial

A number of hedge funds have recently made changes to their positions in LPLA. MCF Advisors LLC purchased a new position in shares of LPL Financial in the first quarter valued at about $26,000. First Manhattan Co. bought a new stake in shares of LPL Financial during the 4th quarter valued at about $27,000. U.S. Capital Wealth Advisors LLC bought a new stake in LPL Financial during the fourth quarter worth about $32,000. Steward Financial Group LLC bought a new stake in LPL Financial during the fourth quarter worth about $37,000. Finally, Ronald Blue Trust Inc. boosted its stake in LPL Financial by 958.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 180 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. 94.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other LPL Financial news, Director William Francis Glavin, Jr. acquired 557 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average cost of $180.23 per share, with a total value of $100,388.11. Following the acquisition, the director now owns 2,775 shares in the company, valued at $500,138.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 17th. LPL Financial’s dividend payout ratio (DPR) is presently 9.22%.

About LPL Financial

(Get Rating)

LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Featured Stories

Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.