LendingClub Corporation (LC) Expected to Post Earnings of $0.03 Per Share
Brokerages expect LendingClub Corporation (NYSE:LC) to report earnings of $0.03 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for LendingClub’s earnings, with estimates ranging from $0.02 to $0.06. LendingClub reported earnings per share of ($0.02) during the same quarter last year, which would indicate a positive year over year growth rate of 250%. The firm is expected to issue its next earnings results on Tuesday, February 13th.
On average, analysts expect that LendingClub will report full year earnings of $0.02 per share for the current fiscal year, with EPS estimates ranging from $0.01 to $0.04. For the next fiscal year, analysts anticipate that the business will report earnings of $0.18 per share, with EPS estimates ranging from $0.11 to $0.28. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for LendingClub.
LC has been the topic of several research analyst reports. UBS AG raised shares of LendingClub from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. raised shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $7.00 price target on the stock in a report on Thursday, August 3rd. CIBC raised shares of LendingClub from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating and set a $6.50 price target on the stock in a report on Tuesday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of LendingClub in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. LendingClub currently has an average rating of “Hold” and a consensus target price of $6.89.
In other LendingClub news, insider Sandeep Bhandari sold 16,028 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $6.07, for a total transaction of $97,289.96. Following the completion of the sale, the insider now directly owns 80,093 shares in the company, valued at $486,164.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas W. Casey purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $4.17 per share, with a total value of $41,700.00. The disclosure for this purchase can be found here. Insiders sold 104,793 shares of company stock valued at $555,863 over the last quarter. 11.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LC. Quantbot Technologies LP purchased a new stake in LendingClub during the third quarter valued at about $103,000. Prudential Financial Inc. boosted its position in LendingClub by 5.4% during the second quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock valued at $126,000 after buying an additional 1,170 shares during the period. Teacher Retirement System of Texas boosted its position in LendingClub by 27.4% during the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after buying an additional 5,130 shares during the period. Blair William & Co. IL boosted its position in LendingClub by 11.3% during the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after buying an additional 2,650 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in LendingClub during the second quarter valued at about $150,000. Institutional investors and hedge funds own 87.91% of the company’s stock.
LendingClub (NYSE LC) opened at $4.26 on Monday. LendingClub has a 1-year low of $4.05 and a 1-year high of $6.78. The company has a current ratio of 18.02, a quick ratio of 16.90 and a debt-to-equity ratio of 3.52.
LendingClub Company Profile
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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