LendingClub (NYSE:LC) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

LendingClub (NYSE:LC) posted its earnings results on Tuesday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08, Briefing.com reports. LendingClub had a return on equity of 3.07% and a net margin of 4.69%. The firm had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. During the same period in the previous year, the firm earned $0.13 earnings per share.

LendingClub Price Performance

NYSE LC traded up $0.02 during trading on Friday, hitting $9.35. 1,102,817 shares of the company’s stock were exchanged, compared to its average volume of 1,479,330. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $10.92. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.04 billion, a PE ratio of 27.49 and a beta of 2.00. The stock’s 50 day moving average price is $8.21 and its two-hundred day moving average price is $7.62.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up from $9.50) on shares of LendingClub in a research report on Wednesday. Finally, StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and an average target price of $11.42.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.