LPL Financial Holdings Inc. (NASDAQ:LPLA) is set to announce third quarter earning results on Thursday 29th October 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, LPLA to report 3Q20 income of $ 1.23 per share.
For the full year, analysts anticipate top line of $ 5693.41 million, while looking forward to income of $ 6.03 per share bottom line.
Previous Quarter Performance
LPL Financial Holdings Inc. posted income for the second quarter of $ 1.42 per share, from the revenue of $ 1,367.00 million. The quarterly earnings decreased 23.24 percent while revenues declined 1.64 percent compared with the same quarter last year.
Street analysts expected LPL Financial Holdings Inc. to report income of $ 1.30 per share on revenue of $ 1357.45 million for the second quarter. The bottom line results beat street analysts by $ 0.12 or 9.23 percent, at the same time, top line results outshined analysts by $ 9.55 million or 0.70 percent.
Stock Performance
Shares of LPL Financial Holdings Inc. traded low $ -2.89 or -3.63 percent on Wednesday, reaching $ 76.74 with volume of 605.20 thousand shares. LPL Financial Holdings Inc. has traded high as $ 78.56 and has cracked $ 75.85 on the downward trend
According to the previous trading day, closing price of $ 76.74, representing a 148.77 % increase from the 52 week low of $ 32.01 and a 20.05 % decrease over the 52 week high of $ 99.60.
The company has a market capital of $ 6.07 billion and is part of the Financial Services sector and Capital Markets industry.
Recent Analyst recommendations
- On 6th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 104.00 target price.
Conference Call
LPL Financial Holdings Inc. will be hosting a conference call at 5:00 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.lpl.com
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies. The company also provides fee-based advisory platforms that provide access to mutual funds, exchange-traded funds, stocks, bonds, certain option strategies, unit investment trusts, and institutional money managers and no-load multi-manager variable annuities.
