Zacks: Brokerages Expect LendingClub Co. (NYSE:LC) Will Post Quarterly Sales of $298.38 Million

Brokerages predict that LendingClub Co. (NYSE:LC – Get Rating) will report $298.38 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for LendingClub’s earnings. The highest sales estimate is $300.00 million and the lowest is $295.57 million. LendingClub posted sales of $204.38 million in the same quarter last year, which would indicate a positive year over year growth rate of 46%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that LendingClub will report full-year sales of $1.21 billion for the current financial year, with estimates ranging from $1.21 billion to $1.22 billion. For the next year, analysts expect that the business will post sales of $1.43 billion, with estimates ranging from $1.40 billion to $1.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow LendingClub.

LendingClub (NYSE:LC – Get Rating) last posted its earnings results on Wednesday, April 27th. The credit services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. The company had revenue of $289.50 million during the quarter, compared to analysts’ expectations of $262.43 million. LendingClub had a net margin of 10.63% and a return on equity of 26.12%. LendingClub’s revenue for the quarter was up 173.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.49) earnings per share.

A number of research analysts have weighed in on LC shares. Credit Suisse Group cut their price objective on shares of LendingClub from $34.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. Zacks Investment Research upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Seaport Res Ptn reiterated a “buy” rating on shares of LendingClub in a research report on Tuesday, January 11th. Wedbush cut their price target on shares of LendingClub from $35.00 to $30.00 in a report on Monday, February 7th. Finally, Janney Montgomery Scott raised shares of LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, January 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $38.83.

NYSE LC traded down $0.76 on Friday, hitting $13.14. 3,349,969 shares of the company’s stock traded hands, compared to its average volume of 2,633,506. LendingClub has a 1-year low of $11.97 and a 1-year high of $49.21. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 13.08 and a beta of 1.95. The stock’s 50-day moving average price is $15.12.

In related news, insider Annie Armstrong sold 3,317 shares of the stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $15.47, for a total transaction of $51,313.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas W. Casey bought 2,750 shares of the company’s stock in a transaction on Friday, February 11th. The stock was purchased at an average cost of $17.98 per share, with a total value of $49,445.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 25,449 shares of company stock valued at $454,188. 3.17% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Keebeck Alpha LP acquired a new position in shares of LendingClub during the first quarter worth $209,000. Wrapmanager Inc. purchased a new stake in LendingClub during the 1st quarter worth about $225,000. Parametrica Management Ltd acquired a new position in shares of LendingClub during the 1st quarter worth about $171,000. Swiss National Bank boosted its position in shares of LendingClub by 8.8% during the 1st quarter. Swiss National Bank now owns 224,360 shares of the credit services provider’s stock worth $3,540,000 after acquiring an additional 18,200 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of LendingClub by 5.8% in the 1st quarter. Teacher Retirement System of Texas now owns 19,444 shares of the credit services provider’s stock valued at $307,000 after acquiring an additional 1,069 shares during the last quarter. 80.27% of the stock is owned by institutional investors and hedge funds.

LendingClub Company Profile (Get Rating)

LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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