Wall Street brokerages expect LendingClub Corp (NYSE:LC) to report sales of $164.25 million for the current quarter, Zacks reports. Four analysts have provided estimates for LendingClub’s earnings, with estimates ranging from $159.30 million to $167.00 million. LendingClub posted sales of $139.57 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that LendingClub will report full-year sales of $688.00 million for the current year, with estimates ranging from $680.00 million to $698.20 million. For the next financial year, analysts expect that the company will post sales of $786.67 million per share, with estimates ranging from $763.00 million to $816.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover LendingClub.
LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, May 8th. The credit services provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. LendingClub had a negative return on equity of 5.62% and a negative net margin of 25.79%. The company had revenue of $151.70 million for the quarter, compared to the consensus estimate of $150.62 million. During the same quarter last year, the business posted ($0.02) EPS. LendingClub’s revenue for the quarter was up 21.8% on a year-over-year basis.
Several equities research analysts recently weighed in on LC shares. Zacks Investment Research raised LendingClub from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. UBS Group assumed coverage on LendingClub in a report on Tuesday, March 27th. They set a “neutral” rating and a $4.00 price objective on the stock. Maxim Group reaffirmed a “buy” rating and set a $6.00 target price on shares of LendingClub in a report on Thursday, April 26th. BTIG Research reaffirmed a “buy” rating on shares of LendingClub in a report on Sunday, April 29th. Finally, ValuEngine raised LendingClub from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. LendingClub has a consensus rating of “Hold” and an average price target of $5.80.
In other news, Director Simon Williams sold 50,000 shares of LendingClub stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $3.40, for a total value of $170,000.00. Following the completion of the transaction, the director now directly owns 123,053 shares of the company’s stock, valued at approximately $418,380.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.72% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. First Republic Investment Management Inc. increased its position in LendingClub by 1.9% in the 1st quarter. First Republic Investment Management Inc. now owns 816,413 shares of the credit services provider’s stock valued at $2,857,000 after buying an additional 15,067 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in 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 in the last quarter. Swiss National Bank increased its position in LendingClub by 3.8% in the 4th quarter. Swiss National Bank now owns 525,500 shares of the credit services provider’s stock valued at $2,170,000 after buying an additional 19,000 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in LendingClub by 23.1% in the 1st quarter. Joel Isaacson & Co. LLC now owns 101,853 shares of the credit services provider’s stock valued at $356,000 after buying an additional 19,084 shares in the last quarter. Finally, MANA Advisors LLC bought a new stake in LendingClub in the 4th quarter valued at about $126,000. 83.22% of the stock is owned by hedge funds and other institutional investors.
Shares of LendingClub traded down $0.09, hitting $3.83, during mid-day trading on Friday, according to MarketBeat Ratings. 113,810 shares of the stock traded hands, compared to its average volume of 2,879,916. The company has a quick ratio of 5.88, a current ratio of 6.28 and a debt-to-equity ratio of 2.98. LendingClub has a twelve month low of $2.57 and a twelve month high of $6.56. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -22.35 and a beta of 1.36.
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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