LPL Financial (NASDAQ:LPLA) Announces Quarterly Earnings Results

LPL Financial (NASDAQ:LPLA) announced its quarterly earnings results on Wednesday. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47, Briefing.com reports. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $3.74 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis.

LPL Financial Stock Performance

Shares of LPLA stock traded up $20.47 on Thursday, reaching $284.49. The stock had a trading volume of 1,161,715 shares, compared to its average volume of 735,320. LPL Financial has a 12 month low of $187.19 and a 12 month high of $291.64. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 1.38 and a beta of 0.88. The firm’s 50-day moving average is $232.98 and its two-hundred day moving average is $248.24. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JMP Securities reaffirmed 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 reduced their price objective on LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, Bank of America raised shares of 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $282.38.

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.