AMEX:LTS.PRA

Stock Analysis Report

Ladenburg Thalmann Financial Services

Executive Summary

Ladenburg Thalmann Financial Services Inc.


Snowflake Analysis

Overvalued with worrying balance sheet.

Share Price & News

How has Ladenburg Thalmann Financial Services's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LTS.PRA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.2%

LTS.PRA

-8.0%

US Capital Markets

-7.4%

US Market


1 Year Return

5.0%

LTS.PRA

8.3%

US Capital Markets

10.5%

US Market

Return vs Industry: LTS.PRA underperformed the US Capital Markets industry which returned 19.9% over the past year.

Return vs Market: LTS.PRA underperformed the US Market which returned 20.8% over the past year.


Shareholder returns

LTS.PRAIndustryMarket
7 Day-0.2%-8.0%-7.4%
30 Day-0.5%-4.0%-3.6%
90 Day-0.7%-2.1%-0.6%
1 Year13.8%5.0%10.4%8.3%12.8%10.5%
3 Year28.1%0.7%27.5%20.4%37.4%28.6%
5 Year56.3%4.2%70.2%54.4%61.3%43.6%

Price Volatility Vs. Market

How volatile is Ladenburg Thalmann Financial Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Ladenburg Thalmann Financial Services undervalued compared to its fair value and its price relative to the market?

2.09x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: LTS.PRA ($25) is trading above our estimate of fair value ($6.38)

Significantly Below Fair Value: LTS.PRA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LTS.PRA is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: LTS.PRA is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate LTS.PRA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: LTS.PRA is good value based on its PB Ratio (2.1x) compared to the US Capital Markets industry average (6.7x).


Next Steps

Future Growth

How is Ladenburg Thalmann Financial Services forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.5%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ladenburg Thalmann Financial Services has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ladenburg Thalmann Financial Services performed over the past 5 years?

3.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LTS.PRA is currently unprofitable.

Growing Profit Margin: LTS.PRA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: LTS.PRA is unprofitable, but has reduced losses over the past 5 years at a rate of 3.3% per year.

Accelerating Growth: Unable to compare LTS.PRA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LTS.PRA is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.4%).


Return on Equity

High ROE: LTS.PRA has a negative Return on Equity (12.77%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Ladenburg Thalmann Financial Services's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: LTS.PRA has a low level of unsold assets or inventory.

Debt Coverage by Assets: LTS.PRA's debt is covered by short term assets (assets are 1.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable LTS.PRA has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: LTS.PRA is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.4% per year.


Financial Institutions Analysis

Asset Level: LTS.PRA's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if LTS.PRA has a sufficient allowance for bad loans.

Low Risk Liabilities: LTS.PRA reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if LTS.PRA has an acceptable proportion of non-loan assets held.

Low Risk Deposits: LTS.PRA has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if LTS.PRA has an appropriate level of bad loans.


Next Steps

Dividend

What is Ladenburg Thalmann Financial Services's current dividend yield, its reliability and sustainability?

1.43%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Ladenburg Thalmann Financial Services before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company1.4%marketbottom25%1.5%markettop25%3.9%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: LTS.PRA's dividend (1.43%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: LTS.PRA's dividend (1.43%) is low compared to the top 25% of dividend payers in the US market (3.7%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, LTS.PRA has been paying a dividend for less than 10 years.

Growing Dividend: LTS.PRA's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: LTS.PRA is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

12.5yrs

Average management tenure


CEO

Richard Lampen (65yo)

13.4yrs

Tenure

US$3,115,271

Compensation

Mr. Richard J. Lampen, also known as Dick, has been the Chief Executive Officer and President of Ladenburg Thalmann Financial Services Inc. since September 6, 2006 and its Chairman of the Board since Septe ...


CEO Compensation Analysis

Compensation vs Market: Richard's total compensation ($USD3.12M) is above average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Richard's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Richard Lampen
Chairman of the Board13.4yrsUS$3.12m2.29% $11.9m
Brett Kaufman
Senior VP & CFO11.8yrsUS$1.01m0.21% $1.1m
Adam Malamed
Executive VP1.4yrsUS$2.88m1.09% $5.6m
Mark Zeitchick
Executive VP & Director20.5yrsUS$3.78m2.9% $15.1m
Joseph Giovanniello
Senior VP of Corporate & Regulatory Affairs and Secretary18.8yrsUS$1.08m0.32% $1.7m
Diane Chillemi
Vice President of Finance & Accounting0yrsUS$249.82kno data
Doreen Griffith
Senior VP & Chief Information Officer3.1yrsno datano data
Emily Claffey
Investor Contact0yrsno datano data
Brian Heller
Senior Vice President of Business & Legal Affairs13.1yrsno datano data
George Oka
Senior VP & Head of Corporate Development2.7yrsno datano data

12.5yrs

Average Tenure

56.5yo

Average Age

Experienced Management: LTS.PRA's management team is seasoned and experienced (12.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Richard Lampen
Chairman of the Board13.4yrsUS$3.12m2.29% $11.9m
Adam Malamed
Executive VP1.4yrsUS$2.88m1.09% $5.6m
Mark Zeitchick
Executive VP & Director20.5yrsUS$3.78m2.9% $15.1m
Howard Lorber
Vice Chairman of the Board13.6yrsUS$1.69m2.43% $12.6m
Richard Krasno
Lead Independent Director5.3yrsUS$330.40k0.30% $1.6m
Henry Beinstein
Independent Director18.8yrsUS$190.40k0.16% $815.5k
Brian Genson
Independent Director15.3yrsUS$165.40k0.14% $717.5k
Bruce Mendelsohn
Member of the Advisory Board0yrsUS$223.67kno data
Jacqueline Simkin
Independent Director8.4yrsUS$190.40k1.39% $7.2m
Robert Bruderman
Chairman of Premier0yrsno datano data

11.0yrs

Average Tenure

70yo

Average Age

Experienced Board: LTS.PRA's board of directors are seasoned and experienced ( 11 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ladenburg Thalmann Financial Services Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ladenburg Thalmann Financial Services Inc.
  • Ticker: LTS.PRA
  • Exchange: AMEX
  • Founded: 1876
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: US$519.096m
  • Shares outstanding: 148.74m
  • Website: https://www.ladenburg.com

Number of Employees


Location

  • Ladenburg Thalmann Financial Services Inc.
  • 4400 Biscayne Boulevard
  • 12th Floor
  • Miami
  • Florida
  • 33137
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LTSAMEX (NYSE MKT LLC)YesCommon StockUSUSDMay 2001
LT6DB (Deutsche Boerse AG)YesCommon StockDEEURMay 2001
LTS.PRAAMEX (NYSE MKT LLC)PFD SER A %USUSDMay 2013

Biography

Ladenburg Thalmann Financial Services Inc. operates as a diversified financial services company in the United States. Its Independent Advisory and Brokerage Services segment offers advisory and securities brokerage services for clients, including advisor managed accounts, general securities, mutual funds, and variable and fixed annuities; brokerage support services, such as access to stock, bond, exchange-traded fund, and options execution; products comprising insurance, non-traded real estate investment trusts, and unit trusts; and research, compliance, supervision, accounting, and related services. This segment also provides asset management services; and trust administration of personal and retirement accounts, estate and financial planning, wealth management, and custody services. The company’s Ladenburg segment offers investment banking services consisting of corporate finance services, such as underwritten public, registered direct, and at-the-market offerings, as well as private investment in public equity and other private placements; and strategic and financial advisory services. This segment also provides investment research, sales and trading, and investment services, as well as administration, operation, securities transactions processing, and customer accounts services; and various asset management products and services, including asset management programs, investment consulting services, fund management, private investment management programs, retirement plan sponsor services, alternative investments, architect programs, and third-party advisory services. Its Insurance Brokerage segment delivers life insurance, fixed, and equity indexed annuities, as well as long-term care solutions to investment and insurance providers; and marketing strategies, product expertise, and back-office processing for fixed and equity-indexed annuities. Ladenburg Thalmann Financial Services Inc. was founded in 1876 and is headquartered in Miami, Florida. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/15 00:38
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.