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

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Brokerages predict that LendingClub Corp (NYSE:LC) will announce $0.02 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for LendingClub’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.03. LendingClub reported earnings per share of $0.03 in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that LendingClub will report full year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.08 to $0.11. For the next fiscal 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 a mean average based on a survey of research firms that that provide coverage for 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 consensus estimate of ($0.04) by $0.07. LendingClub had a negative net margin of 29.82% and a negative return on equity of 3.78%. The firm had revenue of $176.98 million for the quarter, compared to analyst estimates of $164.25 million.

LC has been the topic of a number of research reports. Morgan Stanley lowered shares of LendingClub from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $6.50 in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Citigroup increased their target price on shares of LendingClub from $3.50 to $4.15 and gave the stock a “neutral” rating in a report on Monday, July 30th. Finally, Maxim Group reiterated a “buy” rating and set a $6.00 target price on shares of LendingClub in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.39.

Several institutional investors and hedge funds have recently made changes to their positions in LC. Paloma Partners Management Co purchased a new position in shares of LendingClub in the 2nd quarter valued at $151,000. Xact Kapitalforvaltning AB grew its position in shares of LendingClub by 60.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 45,233 shares of the credit services provider’s stock valued at $158,000 after buying an additional 17,000 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in LendingClub during the 2nd quarter worth $159,000. Alps Advisors Inc. grew its position in LendingClub by 170.8% during the 2nd quarter. Alps Advisors Inc. now owns 84,431 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 53,256 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in LendingClub by 218.6% during the 2nd quarter. California Public Employees Retirement System now owns 113,363 shares of the credit services provider’s stock worth $430,000 after purchasing an additional 77,776 shares during the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.

Shares of LC stock traded up $0.07 during trading hours on Friday, hitting $3.65. The company had a trading volume of 21,696 shares, compared to its average volume of 3,140,531. The company has a debt-to-equity ratio of 3.12, a quick ratio of 8.75 and a current ratio of 10.23. LendingClub has a fifty-two week low of $2.57 and a fifty-two week high of $6.15. The firm has a market cap of $1.52 billion, a P/E ratio of -21.24 and a beta of 1.32.

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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