Brokerages expect LendingClub Corp (NYSE:LC) to announce $157.21 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for LendingClub’s earnings, with the lowest sales estimate coming in at $155.00 million and the highest estimate coming in at $159.04 million. LendingClub reported sales of $129.20 million in the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 13th.
According to Zacks, analysts expect that LendingClub will report full-year sales of $157.21 million for the current fiscal year, with estimates ranging from $573.00 million to $577.13 million. For the next financial year, analysts anticipate that the company will post sales of $687.37 million per share, with estimates ranging from $680.00 million to $704.93 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow LendingClub.
LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, November 7th. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. LendingClub had a negative net margin of 17.19% and a negative return on equity of 9.06%.
Several brokerages have recently weighed in on LC. Needham & Company LLC began coverage on shares of LendingClub in a research report on Wednesday, November 1st. They set a “buy” rating and a $7.00 target price on the stock. BidaskClub lowered shares of LendingClub from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Morgan Stanley decreased their target price on shares of LendingClub from $7.00 to $6.50 and set an “overweight” rating on the stock in a research report on Wednesday, November 8th. Canaccord Genuity reiterated a “hold” rating and set a $7.00 target price on shares of LendingClub in a research report on Monday, November 6th. Finally, Stifel Nicolaus decreased their target price on shares of LendingClub from $5.00 to $4.50 and set a “hold” rating on the stock in a research report on Friday, December 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $6.54.
In other news, Director John J. Mack purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $4.28 per share, with a total value of $85,600.00. Following the acquisition, the director now directly owns 1,513,673 shares of the company’s stock, valued at approximately $6,478,520.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 47,273 shares of LendingClub stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $4.23, for a total transaction of $199,964.79. Following the transaction, the chief executive officer now directly owns 1,034,734 shares of the company’s stock, valued at $4,376,924.82. The disclosure for this sale can be found here. Insiders have purchased a total of 25,957,175 shares of company stock valued at $100,843,283 over the last three months. 9.72% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of LendingClub in the third quarter worth about $103,000. Phoenix Investment Adviser LLC bought a new position in shares of LendingClub in the fourth quarter worth about $124,000. Prudential Financial Inc. raised its stake in shares of LendingClub by 5.4% in the second quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock worth $126,000 after acquiring an additional 1,170 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of LendingClub in the fourth quarter worth about $134,000. Finally, GSA Capital Partners LLP bought a new position in shares of LendingClub in the second quarter worth about $150,000. 85.71% of the stock is owned by hedge funds and other institutional investors.
Shares of LendingClub (LC) opened at $3.66 on Monday. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52. The stock has a market cap of $1,520.00, a price-to-earnings ratio of -15.91 and a beta of 1.38. LendingClub has a 12-month low of $3.29 and a 12-month high of $6.78.
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LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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