Zacks: Brokerages Anticipate LendingClub Co. (NYSE:LC) Will Post Quarterly Sales of $262.27 Million

Equities analysts expect LendingClub Co. (NYSE:LCGet Rating) to announce $262.27 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for LendingClub’s earnings, with estimates ranging from $256.82 million to $272.00 million. LendingClub posted sales of $105.84 million in the same quarter last year, which would indicate a positive year over year growth rate of 147.8%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that LendingClub will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.19 billion. For the next year, analysts anticipate that the firm will report sales of $1.41 billion, with estimates ranging from $1.34 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover LendingClub.

LendingClub (NYSE:LCGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The credit services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.59. LendingClub had a return on equity of 16.23% and a net margin of 2.27%. The company had revenue of $262.24 million for the quarter, compared to analyst estimates of $247.69 million. During the same quarter in the prior year, the company posted ($0.24) EPS.

LC has been the topic of a number of recent analyst reports. Credit Suisse Group reduced their price target on LendingClub from $34.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, January 27th. Zacks Investment Research raised LendingClub from a “sell” rating to a “hold” rating in a research note on Tuesday. Wedbush reduced their price target on LendingClub from $35.00 to $30.00 in a research note on Monday, February 7th. Seaport Res Ptn reissued a “buy” rating on shares of LendingClub in a research note on Tuesday, January 11th. Finally, StockNews.com started coverage on LendingClub in a report on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $38.83.

Shares of LendingClub stock opened at $13.52 on Friday. LendingClub has a fifty-two week low of $11.97 and a fifty-two week high of $49.21. The firm has a market cap of $1.37 billion, a PE ratio of 104.01 and a beta of 2.07. The business’s fifty day moving average is $16.22 and its two-hundred day moving average is $25.02. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 0.27.

In related news, Director Michael P. Zeisser purchased 14,332 shares of the stock in a transaction that occurred on Thursday, February 24th. The stock was purchased at an average cost of $16.19 per share, for a total transaction of $232,035.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Annie Armstrong sold 3,317 shares of the stock in a transaction on Monday, March 7th. The shares were sold at an average price of $15.47, for a total value of $51,313.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,739 shares of company stock valued at $477,345. Insiders own 4.48% of the company’s stock.

A number of large investors have recently bought and sold shares of LC. Point72 Hong Kong Ltd purchased a new position in LendingClub in the 4th quarter valued at about $27,000. Spire Wealth Management boosted its position in LendingClub by 107.8% in the 3rd quarter. Spire Wealth Management now owns 1,195 shares of the credit services provider’s stock valued at $34,000 after buying an additional 620 shares during the last quarter. Emerald Advisers LLC purchased a new position in LendingClub in the 4th quarter valued at about $87,000. Daiwa Securities Group Inc. purchased a new position in LendingClub in the 3rd quarter valued at about $119,000. Finally, Royal Bank of Canada boosted its position in LendingClub by 116.2% in the 2nd quarter. Royal Bank of Canada now owns 7,450 shares of the credit services provider’s stock valued at $135,000 after buying an additional 4,004 shares during the last quarter. 77.36% of the stock is owned by institutional investors.

About LendingClub (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.

Further Reading

Get a free copy of the Zacks research report on LendingClub (LC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for LendingClub (NYSE:LC)

Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.