Q3 EPS Estimates for LPL Financial Reduced by William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - William Blair reduced their Q3 2024 earnings per share estimates for LPL Financial in a note issued to investors on Monday, October 14th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $3.67 per share for the quarter, down from their previous estimate of $3.77. The consensus estimate for LPL Financial's current full-year earnings is $15.79 per share. William Blair also issued estimates for LPL Financial's FY2024 earnings at $15.74 EPS, FY2025 earnings at $18.35 EPS and FY2026 earnings at $20.20 EPS.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.94 earnings per share.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on LPL Financial from $261.00 to $268.00 and gave the company a "neutral" rating in a research note on Thursday, July 11th. 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 note on Tuesday, July 30th. TD Cowen upped their target price on LPL Financial from $243.00 to $255.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. The Goldman Sachs Group cut their target price on LPL Financial from $289.00 to $271.00 and set a "buy" rating for the company in a research note on Thursday, September 26th. Finally, JMP Securities restated a "market outperform" rating and set a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $277.77.

LPL Financial Price Performance

Shares of LPLA stock traded up $7.44 during trading on Thursday, hitting $262.22. The company had a trading volume of 966,224 shares, compared to its average volume of 733,745. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $19.59 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The stock's 50-day moving average price is $223.10 and its 200 day moving average price is $248.28. LPL Financial has a one year low of $187.19 and a one year high of $289.88.

Institutional Trading of LPL Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DGS Capital Management LLC grew its holdings in LPL Financial by 2.8% during the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider's stock worth $429,000 after acquiring an additional 44 shares during the period. Tortoise Investment Management LLC grew its holdings in LPL Financial by 74.7% during the 2nd 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. King Luther Capital Management Corp grew its holdings in LPL Financial by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider's stock worth $1,637,000 after acquiring an additional 56 shares during the period. Gulf International Bank UK Ltd grew its holdings in LPL Financial by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider's stock worth $1,693,000 after acquiring an additional 60 shares during the period. Finally, LVW Advisors LLC grew its holdings in LPL Financial by 1.9% during the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider's stock worth $857,000 after acquiring an additional 61 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. LPL Financial's payout ratio is 9.06%.

LPL Financial Company Profile

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.