Equities analysts expect LendingClub Corp (NYSE:LC) to post $193.02 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for LendingClub’s earnings, with the lowest sales estimate coming in at $188.57 million and the highest estimate coming in at $201.50 million. LendingClub posted sales of $176.98 million in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that LendingClub will report full year sales of $781.28 million for the current financial year, with estimates ranging from $769.10 million to $796.00 million. For the next fiscal year, analysts expect that the firm will report sales of $880.35 million, with estimates ranging from $854.79 million to $926.60 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow LendingClub.
LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded LendingClub from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Saturday, May 11th. Wedbush set a $4.00 target price on LendingClub and gave the company a “hold” rating in a research report on Wednesday, February 20th. Finally, Maxim Group restated a “buy” rating and set a $4.50 target price on shares of LendingClub in a research report on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $4.88.
In other news, insider Bahman Koohestani sold 17,563 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $2.98, for a total value of $52,337.74. Following the transaction, the insider now owns 114,754 shares in the company, valued at $341,966.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon Williams sold 116,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $3.25, for a total value of $377,000.00. Following the completion of the transaction, the director now owns 784 shares in the company, valued at approximately $2,548. The disclosure for this sale can be found here. In the last quarter, insiders sold 779,063 shares of company stock worth $2,625,888. Corporate insiders own 4.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System lifted its holdings in shares of LendingClub by 1.5% in the first quarter. California Public Employees Retirement System now owns 240,089 shares of the credit services provider’s stock valued at $742,000 after purchasing an additional 3,621 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of LendingClub by 6.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock valued at $235,000 after purchasing an additional 5,771 shares in the last quarter. Karp Capital Management Corp lifted its holdings in shares of LendingClub by 5.2% in the fourth quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock valued at $317,000 after purchasing an additional 6,000 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of LendingClub by 5.7% in the fourth quarter. Legal & General Group Plc now owns 142,560 shares of the credit services provider’s stock valued at $375,000 after purchasing an additional 7,653 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of LendingClub in the fourth quarter valued at approximately $26,000. Institutional investors own 87.59% of the company’s stock.
Shares of LC stock remained flat at $$3.24 on Friday. The stock had a trading volume of 1,126,367 shares, compared to its average volume of 2,211,886. The firm has a market capitalization of $1.40 billion, a PE ratio of -46.29 and a beta of 1.67. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27. LendingClub has a 12 month low of $2.46 and a 12 month high of $4.55.
LendingClub Company Profile
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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