LendingClub Corporation (LC) Expected to Announce Earnings of -$0.06 Per Share
Wall Street analysts expect LendingClub Corporation (NYSE:LC) to post earnings of ($0.06) per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LendingClub Corporation’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.08). LendingClub Corporation posted earnings per share of ($0.12) during the same quarter last year, which would indicate a positive year over year growth rate of 50%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, August 7th.
On average, analysts expect that LendingClub Corporation will report full-year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.20) to ($0.11). For the next fiscal year, analysts expect that the business will post earnings of ($0.05) per share, with EPS estimates ranging from ($0.13) to ($0.01). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow LendingClub Corporation.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Thursday, May 4th. The credit services provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.04. The firm had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.63 million. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. LendingClub Corporation’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share.
Several equities research analysts have issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $9.00 target price on shares of LendingClub Corporation in a research report on Monday, May 8th. Susquehanna Bancshares Inc upgraded shares of LendingClub Corporation from a “neutral” rating to a “positive” rating and lifted their target price for the company from $6.00 to $9.00 in a research report on Monday, May 1st. Vetr lowered shares of LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 target price for the company. in a research report on Tuesday, April 11th. Wedbush upgraded shares of LendingClub Corporation from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.50 to $5.00 in a research report on Wednesday, March 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $8.00 target price on shares of LendingClub Corporation in a research report on Tuesday, April 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. LendingClub Corporation has a consensus rating of “Hold” and a consensus price target of $6.48.
In other LendingClub Corporation news, COO Sameer Gulati sold 8,170 shares of LendingClub Corporation stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $5.70, for a total transaction of $46,569.00. Following the transaction, the chief operating officer now directly owns 258,102 shares of the company’s stock, valued at $1,471,181.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Simon Williams sold 80,000 shares of LendingClub Corporation stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.98, for a total transaction of $478,400.00. Following the transaction, the director now directly owns 161,053 shares in the company, valued at $963,096.94. The disclosure for this sale can be found here. Insiders have sold 460,791 shares of company stock worth $2,670,644 over the last three months. Insiders own 11.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LC. GSA Capital Partners LLP purchased a new position in shares of LendingClub Corporation during the fourth quarter valued at approximately $166,000. Two Sigma Investments LP purchased a new position in shares of LendingClub Corporation during the fourth quarter valued at approximately $167,000. State Street Corp increased its position in shares of LendingClub Corporation by 3.7% in the fourth quarter. State Street Corp now owns 5,945,230 shares of the credit services provider’s stock valued at $31,209,000 after buying an additional 210,921 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of LendingClub Corporation by 53.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,182,697 shares of the credit services provider’s stock valued at $11,459,000 after buying an additional 764,597 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of LendingClub Corporation by 37,517.7% in the first quarter. Bank of Montreal Can now owns 263,700 shares of the credit services provider’s stock valued at $1,448,000 after buying an additional 262,999 shares during the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
LendingClub Corporation (LC) opened at 5.39 on Monday. The firm’s market capitalization is $2.18 billion. LendingClub Corporation has a 52-week low of $4.30 and a 52-week high of $6.78. The company’s 50-day moving average is $5.69 and its 200-day moving average is $5.64.
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About LendingClub Corporation
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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