LPL Financial (NASDAQ:LPLA) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

LPL Financial (NASDAQ:LPLA) issued its quarterly earnings data on Thursday. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.11, MarketWatch Earnings reports. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. LPL Financial had a return on equity of 55.32% and a net margin of 9.06%.

Shares of NASDAQ:LPLA traded down $0.24 during midday trading on Friday, reaching $79.02. The company’s stock had a trading volume of 1,992,024 shares, compared to its average volume of 519,591. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 12.56 and a beta of 1.59. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.69. LPL Financial has a 1 year low of $32.01 and a 1 year high of $99.60. The business has a 50 day moving average price of $77.51 and a 200 day moving average price of $73.48.

Several equities analysts recently issued reports on the company. Credit Suisse Group lifted their price objective on LPL Financial from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. CSFB raised their price target on LPL Financial from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Citigroup raised their price target on LPL Financial from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Morgan Stanley raised their price target on LPL Financial from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, ValuEngine raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $84.20.

In other LPL Financial news, Director Richard Steinmeier sold 5,418 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $86.02, for a total transaction of $466,056.36. Following the completion of the sale, the director now owns 57,175 shares of the company’s stock, valued at $4,918,193.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $85.70, for a total value of $1,714,000.00. Following the sale, the chief executive officer now directly owns 232,159 shares of the company’s stock, valued at approximately $19,896,026.30. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Earnings History for LPL Financial (NASDAQ:LPLA)

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