Wall Street analysts forecast that LendingClub Co. (NYSE:LC – Get Rating) will post $298.38 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for LendingClub’s earnings. The lowest sales estimate is $295.57 million and the highest is $300.00 million. LendingClub posted sales of $204.38 million during the same quarter last year, which suggests a positive year over year growth rate of 46%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that LendingClub will report full year sales of $1.21 billion for the current year, with estimates ranging from $1.21 billion to $1.22 billion. For the next fiscal year, analysts expect that the business will report sales of $1.43 billion, with estimates ranging from $1.40 billion to $1.47 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for LendingClub.
LendingClub (NYSE:LC – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The credit services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.13. The business had revenue of $289.50 million for the quarter, compared to analysts’ expectations of $262.43 million. LendingClub had a return on equity of 26.78% and a net margin of 10.63%. The firm’s quarterly revenue was up 173.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.49) earnings per share.
In related news, insider Annie Armstrong sold 3,317 shares of LendingClub stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $17.37, for a total value of $57,616.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Valerie Kay sold 12,688 shares of LendingClub stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $18.59, for a total value of $235,869.92. The disclosure for this sale can be found here. In the last three months, insiders sold 28,766 shares of company stock worth $511,804. 4.48% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Aigen Investment Management LP increased its position in shares of LendingClub by 8.5% during the 1st quarter. Aigen Investment Management LP now owns 15,769 shares of the credit services provider’s stock worth $249,000 after purchasing an additional 1,238 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of LendingClub during the 1st quarter worth approximately $685,000. Advisor Group Holdings Inc. increased its position in shares of LendingClub by 27.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,334 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of LendingClub by 34.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 413,350 shares of the credit services provider’s stock worth $6,522,000 after purchasing an additional 105,570 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of LendingClub during the 1st quarter worth approximately $241,000. 80.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LC opened at $14.95 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. LendingClub has a 1 year low of $11.97 and a 1 year high of $49.21. The stock has a market cap of $1.53 billion, a P/E ratio of 14.80 and a beta of 1.95. The stock’s 50-day moving average price is $15.20 and its two-hundred day moving average price is $23.54.
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.
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