$0.17 Earnings Per Share Expected for Open Lending Co. (NASDAQ:LPRO) This Quarter

Analysts forecast that Open Lending Co. (NASDAQ:LPRO – Get Rating) will post $0.17 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Open Lending’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.20. Open Lending posted earnings per share of $0.15 during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Open Lending will report full-year earnings of $0.83 per share for the current year, with EPS estimates ranging from $0.73 to $0.94. For the next fiscal year, analysts forecast that the firm will post earnings of $1.09 per share, with EPS estimates ranging from $1.00 to $1.25. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Open Lending.

Open Lending (NASDAQ:LPRO – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.08. Open Lending had a return on equity of 47.17% and a net margin of 40.46%. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $43.09 million. During the same period last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis.

LPRO has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on Open Lending from $16.50 to $14.00 and set an “equal weight” rating for the company in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Open Lending in a report on Tuesday, March 29th. They issued a “hold” rating and a $25.00 target price for the company. Needham & Company LLC reduced their target price on Open Lending from $40.00 to $27.00 and set a “buy” rating for the company in a report on Friday, February 25th. Zacks Investment Research downgraded Open Lending from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, Raymond James cut their price target on Open Lending from $44.00 to $30.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.33.

Shares of NASDAQ LPRO opened at $13.64 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 16.81 and a quick ratio of 16.81. The stock has a fifty day moving average price of $17.64 and a 200 day moving average price of $21.84. Open Lending has a 1-year low of $13.39 and a 1-year high of $44.00. The company has a market cap of $1.72 billion, a PE ratio of 19.49 and a beta of 0.36.

A number of institutional investors have recently bought and sold shares of LPRO. Macquarie Group Ltd. grew its holdings in Open Lending by 1.9% in the 3rd quarter. Macquarie Group Ltd. now owns 1,375,446 shares of the company’s stock valued at $49,612,000 after buying an additional 26,300 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Open Lending in the 4th quarter valued at about $3,603,000. Virginia Retirement Systems ET AL acquired a new position in Open Lending during the 4th quarter worth approximately $436,000. Blueshift Asset Management LLC acquired a new position in Open Lending during the 3rd quarter worth approximately $265,000. Finally, Cubist Systematic Strategies LLC lifted its position in Open Lending by 2.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 40,121 shares of the company’s stock worth $1,447,000 after acquiring an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 86.85% of the company’s stock.

About Open Lending (Get Rating)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.

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