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Wall Street brokerages predict that LendingClub Co. (NYSE:LC – Get Rating) will post sales of $298.38 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for LendingClub’s earnings, with the highest sales estimate coming in at $300.00 million and the lowest estimate coming in at $295.57 million. LendingClub posted sales of $204.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 46%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that LendingClub will report full year sales of $1.21 billion for the current financial year, with estimates ranging from $1.21 billion to $1.22 billion. For the next fiscal year, analysts expect that the business will report sales of $1.43 billion, with estimates ranging from $1.40 billion to $1.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover LendingClub.
LendingClub (NYSE:LC – Get Rating) last posted its earnings results on Wednesday, April 27th. The credit services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.13. The business had revenue of $289.50 million for the quarter, compared to analyst estimates of $262.43 million. LendingClub had a net margin of 10.63% and a return on equity of 26.12%. LendingClub’s revenue was up 173.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.49) EPS.
A number of brokerages have recently issued reports on LC. Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Credit Suisse Group dropped their target price on shares of LendingClub from $34.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, January 27th. Wedbush decreased their price target on shares of LendingClub from $35.00 to $30.00 in a research note on Monday, February 7th. Finally, StockNews.com assumed coverage on shares of LendingClub in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $38.83.
In related news, insider Annie Armstrong sold 3,317 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $15.47, for a total value of $51,313.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Fergal Stack sold 6,127 shares of the stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $18.58, for a total transaction of $113,839.66. The disclosure for this sale can be found here. Insiders have sold 26,739 shares of company stock worth $472,880 in the last quarter. Company insiders own 4.48% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in LendingClub by 20.2% in the 3rd quarter. Goldman Sachs Group Inc. now owns 800,102 shares of the credit services provider’s stock valued at $22,595,000 after purchasing an additional 134,311 shares in the last quarter. Trexquant Investment LP increased its position in shares of LendingClub by 35.1% during the 3rd quarter. Trexquant Investment LP now owns 34,175 shares of the credit services provider’s stock worth $965,000 after purchasing an additional 8,870 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of LendingClub by 62.6% during the 4th quarter. Victory Capital Management Inc. now owns 13,848 shares of the credit services provider’s stock worth $335,000 after purchasing an additional 5,330 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of LendingClub during the 4th quarter worth about $4,804,000. Finally, Emerald Advisers LLC purchased a new position in LendingClub during the 4th quarter valued at about $87,000. Institutional investors and hedge funds own 80.27% of the company’s stock.
Shares of NYSE:LC opened at $14.13 on Friday. LendingClub has a one year low of $12.27 and a one year high of $49.21. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.99 and a beta of 1.95. The company’s fifty day moving average price is $14.60 and its 200-day moving average price is $21.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.17 and a quick ratio of 1.08.
LendingClub Company Profile (Get Rating)
LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.
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