LendingTree (NASDAQ:TREE) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

LendingTree (NASDAQ:TREE) issued its quarterly earnings results on Thursday. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.19), Briefing.com reports. LendingTree had a negative return on equity of 3.15% and a negative net margin of 19.02%. The business had revenue of $210.10 million for the quarter, compared to analyst estimates of $187.41 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. LendingTree updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

LendingTree Stock Up 1.8 %

TREE traded up $1.00 during trading on Friday, reaching $55.72. The company had a trading volume of 511,483 shares, compared to its average volume of 165,400. The company has a debt-to-equity ratio of 4.80, a current ratio of 3.71 and a quick ratio of 3.71. LendingTree has a 12 month low of $10.12 and a 12 month high of $59.00. The business’s fifty day moving average price is $44.77 and its 200 day moving average price is $40.27. The company has a market cap of $736.90 million, a P/E ratio of -5.37 and a beta of 2.11.

Analyst Ratings Changes

Several research analysts recently weighed in on TREE shares. Truist Financial lifted their price objective on shares of LendingTree from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Stephens reissued an “overweight” rating and set a $55.00 price objective on shares of LendingTree in a research note on Thursday, June 20th. Keefe, Bruyette & Woods lifted their price objective on shares of LendingTree from $45.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Susquehanna lifted their price objective on shares of LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Oppenheimer lifted their price objective on shares of LendingTree from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, LendingTree presently has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Insider Activity

In other news, CFO Trent Ziegler sold 8,750 shares of LendingTree stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.30, for a total value of $431,375.00. Following the sale, the chief financial officer now directly owns 5 shares in the company, valued at $246.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven Ozonian sold 1,610 shares of LendingTree stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $44.31, for a total value of $71,339.10. Following the sale, the director now directly owns 6,784 shares in the company, valued at $300,599.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Trent Ziegler sold 8,750 shares of LendingTree stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.30, for a total transaction of $431,375.00. Following the completion of the sale, the chief financial officer now owns 5 shares in the company, valued at $246.50. The disclosure for this sale can be found here. Insiders have sold 13,802 shares of company stock worth $673,219 over the last ninety days. Insiders own 23.40% of the company’s stock.

About LendingTree

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.