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

LPL Financial (NASDAQ:LPLA) announced its earnings results on Wednesday. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $3.74 EPS.

LPL Financial Stock Performance

NASDAQ LPLA traded up $18.16 during trading on Thursday, reaching $282.18. The company’s stock had a trading volume of 1,592,297 shares, compared to its average volume of 737,361. LPL Financial has a 12 month low of $187.19 and a 12 month high of $291.64. The firm has a 50 day moving average price of $232.98 and a 200 day moving average price of $248.24. The firm 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 current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

Wall Street Analyst Weigh In

Several brokerages recently commented on LPLA. Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Barclays upped their target price on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. Morgan Stanley increased their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.