ValuEngine Downgrades Yirendai Ltd. (YRD) to Buy

ValuEngine downgraded shares of Yirendai Ltd. (NYSE:YRD) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, October 3rd.

YRD has been the subject of several other research reports. Zacks Investment Research downgraded shares of Yirendai from a buy rating to a hold rating in a report on Friday, September 15th. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price objective (up previously from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call.

Shares of Yirendai (NYSE:YRD) opened at 49.80 on Tuesday. Yirendai has a 52 week low of $19.85 and a 52 week high of $51.28. The firm has a market capitalization of $2.98 billion, a P/E ratio of 14.62 and a beta of 8.52. The firm has a 50-day moving average of $43.72 and a 200 day moving average of $31.93.

Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The firm had revenue of $773.79 million for the quarter, compared to analyst estimates of $153.78 million. During the same period last year, the firm posted $0.66 EPS. The business’s revenue was up 343.4% compared to the same quarter last year. On average, equities research analysts expect that Yirendai will post $2.93 EPS for the current fiscal year.

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The business also recently disclosed a special dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $1.50 dividend. The ex-dividend date is Thursday, September 28th. Yirendai’s payout ratio is currently 45.40%.

A number of institutional investors have recently modified their holdings of YRD. First Trust Advisors LP raised its position in Yirendai by 37.3% in the first quarter. First Trust Advisors LP now owns 46,295 shares of the technology company’s stock worth $1,162,000 after acquiring an additional 12,581 shares in the last quarter. Sei Investments Co. bought a new stake in Yirendai in the first quarter worth about $176,000. Parametric Portfolio Associates LLC bought a new stake in Yirendai in the first quarter worth about $362,000. State of Wisconsin Investment Board raised its position in Yirendai by 230.6% in the first quarter. State of Wisconsin Investment Board now owns 50,900 shares of the technology company’s stock worth $1,277,000 after acquiring an additional 35,505 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Yirendai in the first quarter worth about $1,766,000. Hedge funds and other institutional investors own 6.87% of the company’s stock.

Yirendai Company Profile

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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