LPL Financial Holdings Inc. (NASDAQ:LPLA) – Analysts at William Blair have lowered their Q3 2024 earnings forecast for LPL Financial. They now expect earnings per share (EPS) of $3.67, down from $3.77. For the full year, the consensus EPS estimate is $15.79. Future earnings estimates include $15.74 for FY2024, $18.35 for FY2025, and $20.20 for FY2026.
In its last quarterly report on July 25, LPL Financial announced an EPS of $3.88, exceeding expectations of $3.66. Revenue reached $2.93 billion, above the $2.89 billion estimate, with an 18.8% year-over-year increase.
Other analysts made various adjustments to their ratings and price targets for LPL Financial. Wells Fargo upgraded the stock from “equal weight” to “overweight,” raising the target price from $235 to $285. Goldman Sachs decreased their price target from $289 to $271, maintaining a “buy” rating. UBS raised their target from $215 to $250, and Barclays reduced theirs from $313 to $273. TD Cowen increased their target from $243 to $255. Overall, the stock has a consensus rating of “Hold” with an average price target of $277.77.
LPL Financial Stock Performance
LPL Financial shares opened at $258.62. The company has a market cap of $19.32 billion, P/E ratio of 19.53, and a 52-week trading range of $187.19 to $289.88.
LPL Financial Dividend Announcement
The company recently declared a quarterly dividend of $0.30 per share, paid on August 23. The annualized dividend is $1.20, yielding 0.46%.
Institutional Investors
Institutional investors own 95.66% of LPL Financial. Vanguard Group increased its stake by 0.7%, Kayne Anderson Rudnick by 9.9%, and Boston Partners by 71.9% in recent quarters.
About LPL Financial
LPL Financial Holdings Inc. provides brokerage and investment advisory services to independent financial advisors in the U.S.
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