Zacks Research Boosts Earnings Estimates for LPL Financial

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at Zacks Research lifted their FY2024 earnings estimates for LPL Financial in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $15.87 for the year, up from their prior estimate of $15.67. The consensus estimate for LPL Financial’s current full-year earnings is $16.10 per share. Zacks Research also issued estimates for LPL Financial’s FY2026 earnings at $20.49 EPS.

LPLA has been the topic of a number of other research reports. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Citigroup boosted their target price on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $325.12 on Monday. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.60 and a beta of 0.85. The firm has a fifty day moving average price of $263.32 and a 200 day moving average price of $252.97. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $330.72.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.74 EPS.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the second quarter worth $25,000. Key Financial Inc purchased a new stake in LPL Financial during the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the 3rd quarter valued at about $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the third quarter worth approximately $34,000. Finally, Crewe Advisors LLC increased its position in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Announces Dividend

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