LendingTree, Inc. (NASDAQ:TREE) Expected to Post Quarterly Sales of $271.01 Million

Brokerages forecast that LendingTree, Inc. (NASDAQ:TREE) will report $271.01 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for LendingTree’s earnings, with the highest sales estimate coming in at $274.56 million and the lowest estimate coming in at $268.70 million. LendingTree reported sales of $184.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 47%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 3rd.

According to Zacks, analysts expect that LendingTree will report full year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.08 billion to $1.17 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.30 billion, with estimates ranging from $1.25 billion to $1.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover LendingTree.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Thursday, April 29th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $1.39. The company had revenue of $272.75 million for the quarter, compared to analyst estimates of $265.77 million. LendingTree had a negative return on equity of 1.85% and a negative net margin of 4.05%.

A number of brokerages have recently issued reports on TREE. Truist lowered their target price on shares of LendingTree from $335.00 to $350.00 in a research report on Thursday, February 25th. JPMorgan Chase & Co. lifted their price objective on shares of LendingTree from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. Oppenheimer reduced their target price on shares of LendingTree from $395.00 to $325.00 in a report on Friday, April 30th. Needham & Company LLC lowered their price target on LendingTree from $375.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, May 5th. Finally, Northland Securities reduced their price objective on LendingTree from $225.00 to $200.00 and set an “underperform” rating for the company in a research note on Wednesday, April 14th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $324.38.

TREE traded down $1.30 during trading on Friday, hitting $184.49. 15,655 shares of the stock were exchanged, compared to its average volume of 310,150. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 1.67. LendingTree has a 1-year low of $164.57 and a 1-year high of $372.64. The stock has a fifty day moving average price of $213.28 and a two-hundred day moving average price of $269.38. The firm has a market capitalization of $2.46 billion, a P/E ratio of -60.80 and a beta of 1.75.

In other LendingTree news, Director G Kennedy Thompson purchased 3,500 shares of LendingTree stock in a transaction dated Friday, February 26th. The stock was acquired at an average cost of $276.21 per share, with a total value of $966,735.00. Following the acquisition, the director now directly owns 4,845 shares of the company’s stock, valued at $1,338,237.45. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Neil Salvage sold 1,100 shares of LendingTree stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $239.00, for a total value of $262,900.00. Following the completion of the sale, the president now owns 5,004 shares in the company, valued at $1,195,956. The disclosure for this sale can be found here. 17.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TREE. Royal Bank of Canada grew its stake in shares of LendingTree by 77.0% during the 1st quarter. Royal Bank of Canada now owns 16,490 shares of the financial services provider’s stock worth $3,511,000 after purchasing an additional 7,171 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in LendingTree by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,055 shares of the financial services provider’s stock worth $651,000 after buying an additional 70 shares in the last quarter. Weld Capital Management LLC acquired a new position in LendingTree during the first quarter worth about $521,000. Janus Henderson Group PLC increased its holdings in LendingTree by 38.3% in the first quarter. Janus Henderson Group PLC now owns 510,851 shares of the financial services provider’s stock valued at $108,811,000 after buying an additional 141,403 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in LendingTree in the first quarter valued at about $242,000. 88.67% of the stock is owned by institutional investors.

About LendingTree

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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Earnings History and Estimates for LendingTree (NASDAQ:TREE)

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