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

LPL Financial (NASDAQ:LPLA) issued its quarterly earnings data on Wednesday. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $3.74 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year.

LPL Financial Price Performance

NASDAQ:LPLA traded up $20.47 on Thursday, hitting $284.49. The company had a trading volume of 1,161,715 shares, compared to its average volume of 735,320. The firm has a 50 day moving average of $232.98 and a two-hundred day moving average of $248.24. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.38 and a beta of 0.88. LPL Financial has a 52 week low of $187.19 and a 52 week high of $291.64. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LPLA shares. Bank of America upgraded 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. UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Barclays boosted their target price on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen raised their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average target price 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.