LPL Financial (NASDAQ:LPLA) Announces Quarterly Earnings Results, Beats Expectations By $0.47 EPS

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

LPL Financial Trading Up 6.9 %

Shares of LPL Financial stock traded up $18.16 on Thursday, hitting $282.18. 1,592,297 shares of the company’s stock traded hands, compared to its average volume of 737,361. The company has a fifty day moving average of $232.98 and a two-hundred day moving average of $248.24. LPL Financial has a one year low of $187.19 and a one year high of $291.64. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

Wall Street Analyst Weigh In

Several research firms have weighed in on LPLA. Barclays upped their target price on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Jefferies Financial Group lowered their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. The Goldman Sachs Group decreased their price target on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Hold” and a consensus price target of $282.38.

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.