LendingClub Corp (LC) Expected to Announce Earnings of $0.02 Per Share

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Equities research analysts expect LendingClub Corp (NYSE:LC) to report $0.02 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for LendingClub’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.00. LendingClub reported earnings per share of ($0.01) during the same quarter last year, which suggests a positive year over year growth rate of 300%. The business is scheduled to issue its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that LendingClub will report full year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from $0.09 to $0.12. For the next year, analysts expect that the company will post earnings of $0.19 per share, with EPS estimates ranging from $0.13 to $0.26. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, May 8th. The credit services provider reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $150.62 million. LendingClub had a negative net margin of 25.79% and a negative return on equity of 5.62%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS.

LC has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating on shares of LendingClub in a research note on Sunday, April 29th. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of LendingClub in a research note on Thursday, April 26th. Craig Hallum set a $5.00 price objective on shares of LendingClub and gave the stock a “buy” rating in a research note on Friday, June 1st. ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. LendingClub currently has a consensus rating of “Hold” and an average price target of $5.80.

Shares of LendingClub opened at $3.92 on Wednesday, according to MarketBeat Ratings. The company has a current ratio of 6.28, a quick ratio of 5.88 and a debt-to-equity ratio of 2.98. LendingClub has a 12-month low of $2.57 and a 12-month high of $6.56.

In related news, Director Simon Williams sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $3.40, for a total transaction of $170,000.00. Following the completion of the sale, the director now directly owns 123,053 shares in the company, valued at $418,380.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.72% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of LendingClub by 0.8% during the first quarter. BlackRock Inc. now owns 22,257,978 shares of the credit services provider’s stock worth $77,902,000 after purchasing an additional 173,473 shares during the period. Deutsche Bank AG lifted its stake in LendingClub by 19.3% in the fourth quarter. Deutsche Bank AG now owns 18,573,804 shares of the credit services provider’s stock valued at $76,708,000 after acquiring an additional 3,002,439 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in LendingClub by 37.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,363,817 shares of the credit services provider’s stock valued at $64,273,000 after acquiring an additional 4,967,547 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in LendingClub by 21.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,635,696 shares of the credit services provider’s stock valued at $37,225,000 after acquiring an additional 1,862,610 shares during the last quarter. Finally, Jackson Square Partners LLC lifted its stake in LendingClub by 3.1% in the fourth quarter. Jackson Square Partners LLC now owns 10,193,070 shares of the credit services provider’s stock valued at $42,097,000 after acquiring an additional 309,328 shares during the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.

About LendingClub

LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.

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