Equities analysts forecast that LendingClub Corp (NYSE:LC) will report $152.18 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for LendingClub’s earnings. The highest sales estimate is $154.53 million and the lowest is $150.00 million. LendingClub reported sales of $124.48 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that LendingClub will report full year sales of $152.18 million for the current year, with estimates ranging from $680.00 million to $693.30 million. For the next year, analysts forecast that the firm will report sales of $803.61 million per share, with estimates ranging from $773.00 million to $858.31 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover LendingClub.
LendingClub (NYSE:LC) last released its earnings results on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). LendingClub had a negative return on equity of 7.10% and a negative net margin of 26.77%. The business had revenue of $156.50 million for the quarter, compared to analysts’ expectations of $157.55 million. During the same quarter last year, the company posted ($0.02) earnings per share. The business’s quarterly revenue was up 19.9% compared to the same quarter last year.
Several equities research analysts have commented on the company. Citigroup dropped their price target on LendingClub from $4.25 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Zacks Investment Research lowered LendingClub from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Compass Point upgraded LendingClub from a “sell” rating to a “neutral” rating in a research note on Friday, December 8th. Maxim Group restated a “buy” rating and set a $6.00 price target (down from $8.00) on shares of LendingClub in a research note on Monday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price target (down from $7.00) on shares of LendingClub in a research note on Friday, December 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.24.
In related news, Director Kenneth D. Denman bought 30,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $3.16 per share, for a total transaction of $94,800.00. Following the completion of the purchase, the director now owns 30,000 shares in the company, valued at $94,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tian Qiao Chen bought 7,696,016 shares of the stock in a transaction dated Thursday, March 1st. The stock was bought at an average price of $3.57 per share, with a total value of $27,474,777.12. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,776,016 shares of company stock valued at $27,761,077. Insiders own 9.72% of the company’s stock.
Several hedge funds have recently bought and sold shares of LC. Quantbot Technologies LP acquired a new stake in shares of LendingClub in the third quarter valued at about $103,000. Xact Kapitalforvaltning AB acquired a new stake in LendingClub during the 4th quarter valued at approximately $117,000. Phoenix Investment Adviser LLC acquired a new stake in LendingClub during the 4th quarter valued at approximately $124,000. MANA Advisors LLC acquired a new stake in LendingClub during the 4th quarter valued at approximately $126,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in LendingClub during the 4th quarter valued at approximately $134,000. Institutional investors and hedge funds own 89.80% of the company’s stock.
Shares of LendingClub (LC) traded up $0.12 during trading hours on Friday, reaching $3.90. The company’s stock had a trading volume of 3,279,010 shares, compared to its average volume of 8,063,596. The firm has a market capitalization of $1,578.45, a price-to-earnings ratio of -10.54 and a beta of 1.43. The company has a debt-to-equity ratio of 3.22, a current ratio of 5.79 and a quick ratio of 5.47. LendingClub has a 12 month low of $3.09 and a 12 month high of $6.56.
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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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