Zacks: Analysts Expect LendingClub Corp (LC) Will Post Earnings of $0.02 Per Share

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Analysts expect that LendingClub Corp (NYSE:LC) will post $0.02 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for LendingClub’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.03. LendingClub posted earnings of $0.03 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 33.3%. The business is expected to report its next earnings report on Tuesday, November 6th.

On average, analysts expect that LendingClub will report full-year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.11. For the next financial year, analysts forecast that the business will post earnings of $0.17 per share, with EPS estimates ranging from $0.12 to $0.24. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, August 7th. The credit services provider reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.07. The company had revenue of $176.98 million for the quarter, compared to analysts’ expectations of $164.25 million. LendingClub had a negative return on equity of 3.78% and a negative net margin of 29.82%.

A number of brokerages have commented on LC. Zacks Investment Research cut LendingClub from a “hold” rating to a “sell” rating in a research note on Wednesday. Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of LendingClub in a research note on Wednesday, August 8th. Citigroup boosted their price objective on LendingClub from $4.15 to $4.25 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Credit Suisse Group reduced their price objective on LendingClub from $5.80 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 9th. Finally, Craig Hallum set a $5.00 price objective on LendingClub and gave the stock a “buy” rating in a research note on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.75.

In related news, insider Timothy Bogan sold 25,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $4.50, for a total value of $112,500.00. Following the transaction, the insider now owns 149,045 shares in the company, valued at $670,702.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Simon Williams sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $4.33, for a total value of $216,500.00. Following the sale, the director now owns 86,389 shares in the company, valued at approximately $374,064.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,000 shares of company stock worth $527,000. Insiders own 4.04% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB acquired a new stake in LendingClub during the fourth quarter valued at approximately $117,000. Alps Advisors Inc. acquired a new stake in LendingClub during the first quarter valued at approximately $109,000. Symons Capital Management Inc. acquired a new stake in LendingClub during the first quarter valued at approximately $135,000. Paloma Partners Management Co acquired a new stake in LendingClub during the second quarter valued at approximately $151,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in LendingClub during the second quarter valued at approximately $159,000. Hedge funds and other institutional investors own 82.87% of the company’s stock.

Shares of LC traded down $0.04 during midday trading on Friday, reaching $3.79. 1,816,588 shares of the company were exchanged, compared to its average volume of 5,620,043. The stock has a market cap of $1.56 billion, a PE ratio of -22.29 and a beta of 1.41. LendingClub has a 1-year low of $2.57 and a 1-year high of $6.56. The company has a debt-to-equity ratio of 3.12, a current ratio of 10.23 and a quick ratio of 8.75.

LendingClub Company Profile

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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