Media stories about LPL Financial (NASDAQ:LPLA) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. LPL Financial earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 46.7050725685689 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Shares of LPL Financial (NASDAQ:LPLA) traded down $0.33 during midday trading on Wednesday, hitting $56.79. The stock had a trading volume of 424,600 shares, compared to its average volume of 709,261. LPL Financial has a twelve month low of $34.45 and a twelve month high of $57.90. The stock has a market capitalization of $5,150.00, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.88. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.48 and a current ratio of 1.48.
LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.58 earnings per share. LPL Financial’s revenue was up 4.6% compared to the same quarter last year. research analysts anticipate that LPL Financial will post 2.31 earnings per share for the current fiscal year.
LPL Financial announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 5th that authorizes the company to buyback $359.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several brokerages have recently weighed in on LPLA. Keefe, Bruyette & Woods restated a “buy” rating and issued a $66.00 price objective on shares of LPL Financial in a report on Friday, December 22nd. Morgan Stanley upped their price objective on LPL Financial from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. SunTrust Banks restated a “buy” rating and issued a $65.00 price objective on shares of LPL Financial in a report on Friday, October 27th. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective on LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.55.
In other news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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