FY2024 EPS Forecast for LPL Financial Increased by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of LPL Financial in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $15.87 per share for the year, up from their previous 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.

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

LPLA has been the subject of several other reports. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Citigroup boosted their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley upped their price target on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Price Performance

Shares of LPLA opened at $327.35 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50 day simple moving average of $265.66 and a 200 day simple moving average of $253.40. LPL Financial has a 52-week low of $187.19 and a 52-week high of $330.72. The firm has a market capitalization of $24.51 billion, a PE ratio of 24.58, a P/E/G ratio of 1.60 and a beta of 0.85.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 3,809 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of LPL Financial during the 3rd quarter worth $182,000. Sanctuary Advisors LLC grew its holdings in shares of LPL Financial by 25.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 16,399 shares of the financial services provider’s stock worth $3,815,000 after purchasing an additional 3,339 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of LPL Financial by 15.6% during the 3rd quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock worth $2,249,000 after purchasing an additional 1,304 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in shares of LPL Financial by 2.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given 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 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.