William Blair Lowers Earnings Estimates for LPL Financial

LPL Financial Holdings Inc. (NASDAQ:LPLA) – William Blair lowered their Q3 2024 earnings estimates for LPL Financial in a report issued on Monday, October 14th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.67 per share for the quarter, down from their previous estimate of $3.77. The consensus estimate for LPL Financial’s current full-year earnings is $15.79 per share. William Blair also issued estimates for LPL Financial’s FY2024 earnings at $15.74 EPS, FY2025 earnings at $18.35 EPS and FY2026 earnings at $20.20 EPS.

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

Other equities research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Jefferies Financial Group decreased their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Keefe, Bruyette & Woods decreased their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded shares of 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 target price on the stock in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $277.77.

LPL Financial Price Performance

LPL Financial stock opened at $258.62 on Thursday. The company has a market cap of $19.32 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.32 and a beta of 0.88. The firm’s fifty day moving average is $225.63 and its 200 day moving average is $248.32. 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial during the 2nd quarter worth about $25,000. Key Financial Inc bought a new position in LPL Financial during the 2nd quarter worth about $28,000. Riverview Trust Co bought a new position in LPL Financial during the 1st quarter worth about $30,000. Crewe Advisors LLC grew its holdings 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 acquiring an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its holdings 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 acquiring an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is presently 9.06%.

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.