LendingTree (NASDAQ:TREE) Announces Earnings Results

LendingTree (NASDAQ:TREE – Get Rating) released its earnings results on Thursday. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $1.48, Briefing.com reports. The firm had revenue of $283.18 million during the quarter, compared to analyst estimates of $283.65 million. LendingTree had a net margin of 6.29% and a negative return on equity of 2.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS.

NASDAQ:TREE traded down $8.46 during mid-day trading on Friday, hitting $72.32. The company’s stock had a trading volume of 417,833 shares, compared to its average volume of 208,658. LendingTree has a fifty-two week low of $70.04 and a fifty-two week high of $228.81. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $923.53 million, a price-to-earnings ratio of 25.55 and a beta of 1.60. The stock has a fifty day moving average of $104.39 and a 200-day moving average of $118.97.

A number of research analysts have weighed in on TREE shares. Needham & Company LLC cut their target price on shares of LendingTree from $175.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, February 28th. Truist Financial cut their price objective on shares of LendingTree from $240.00 to $185.00 in a research report on Friday. Northland Securities lowered shares of LendingTree from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a research report on Friday. Susquehanna cut their price objective on shares of LendingTree from $180.00 to $160.00 in a research report on Friday. Finally, StockNews.com began coverage on shares of LendingTree in a research report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, LendingTree currently has a consensus rating of “Hold” and an average target price of $161.89.

A number of large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in LendingTree during the fourth quarter worth about $10,923,000. BlackRock Inc. grew its stake in LendingTree by 62.8% during the fourth quarter. BlackRock Inc. now owns 2,114,327 shares of the financial services provider’s stock worth $259,215,000 after buying an additional 815,531 shares during the last quarter. Comerica Bank grew its stake in LendingTree by 89.6% during the fourth quarter. Comerica Bank now owns 9,828 shares of the financial services provider’s stock worth $1,254,000 after buying an additional 4,644 shares during the last quarter. Deutsche Bank AG grew its stake in LendingTree by 16.9% during the fourth quarter. Deutsche Bank AG now owns 81,193 shares of the financial services provider’s stock worth $9,955,000 after buying an additional 11,754 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in LendingTree by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 16,493 shares of the financial services provider’s stock worth $2,022,000 after buying an additional 424 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

About LendingTree (Get Rating)

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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