LendingTree (NASDAQ:TREE) Releases Earnings Results, Beats Estimates By $1.48 EPS

LendingTree (NASDAQ:TREE – Get Rating) issued its earnings results on Thursday. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $1.48, Briefing.com reports. The business had revenue of $283.18 million for 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share.

Shares of LendingTree stock traded down $8.46 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. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $104.39 and a 200-day moving average price of $118.97. The company has a market capitalization of $923.53 million, a P/E ratio of 25.55 and a beta of 1.60. LendingTree has a 52-week low of $70.04 and a 52-week high of $228.81.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in LendingTree by 62.8% in the fourth quarter. BlackRock Inc. now owns 2,114,327 shares of the financial services provider’s stock valued at $259,215,000 after acquiring an additional 815,531 shares during the last quarter. Morgan Stanley increased its holdings in LendingTree by 185.3% in the 2nd quarter. Morgan Stanley now owns 53,185 shares of the financial services provider’s stock valued at $11,269,000 after purchasing an additional 34,543 shares in the last quarter. Norges Bank purchased a new position in LendingTree in the fourth quarter valued at about $10,923,000. Charles Schwab Investment Management Inc. lifted its stake in shares of LendingTree by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 81,598 shares of the financial services provider’s stock worth $10,004,000 after purchasing an additional 1,913 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of LendingTree by 16.9% in the fourth quarter. Deutsche Bank AG now owns 81,193 shares of the financial services provider’s stock valued at $9,955,000 after buying an additional 11,754 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

TREE has been the topic of several research reports. Northland Securities lowered shares of LendingTree from an “outperform” rating to a “market perform” rating and set a $90.00 price objective on the stock. in a report on Friday. StockNews.com initiated coverage on shares of LendingTree in a research note on Thursday, March 31st. They set a “hold” rating for the company. Susquehanna cut their price objective on shares of LendingTree from $180.00 to $160.00 in a report on Friday. Truist Financial cut their target price on shares of LendingTree from $240.00 to $185.00 in a research note on Friday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price on shares of LendingTree in a report on Monday, March 28th. One 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. Based on data from MarketBeat, LendingTree has an average rating of “Hold” and a consensus target price of $161.89.

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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