Research Analysts Offer Predictions for LPL Financial Holdings Inc.’s FY2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of LPL Financial in a research report issued to clients and investors on Tuesday, September 17th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $15.70 per share for the year, down from their previous forecast of $15.85. The consensus estimate for LPL Financial’s current full-year earnings is $15.90 per share. Zacks Research also issued estimates for LPL Financial’s Q4 2024 earnings at $3.93 EPS, Q1 2025 earnings at $4.46 EPS, Q2 2025 earnings at $4.73 EPS, FY2025 earnings at $19.07 EPS, Q1 2026 earnings at $5.17 EPS, Q2 2026 earnings at $5.65 EPS and FY2026 earnings at $23.17 EPS.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm earned $3.94 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis.

LPLA has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. TD Cowen upped their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. JMP Securities raised their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. UBS Group lowered their price target on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $275.27.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $215.52 on Friday. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial has a 52 week low of $187.19 and a 52 week high of $289.88. The company has a fifty day simple moving average of $216.25 and a two-hundred day simple moving average of $251.80.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.56%. LPL Financial’s dividend payout ratio is currently 9.06%.

Institutional Trading of LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the second quarter worth approximately $25,000. Key Financial Inc acquired a new position in shares of LPL Financial in the 2nd quarter valued at $28,000. Riverview Trust Co purchased a new stake in LPL Financial in the 1st quarter valued at $30,000. Crewe Advisors LLC boosted its stake in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC grew its position 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 purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.