LexinFintech (NASDAQ:LX) Announces Share Buyback Plan

LexinFintech (NASDAQ:LX) announced that its board has authorized a share buyback plan on Monday, July 21st, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded LexinFintech from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th.

LexinFintech Stock Performance

NASDAQ LX opened at $7.06 on Tuesday. LexinFintech has a 52-week low of $1.57 and a 52-week high of $11.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.66 and a beta of 0.41. The company has a fifty day moving average of $7.42 and a 200-day moving average of $7.92.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.33 earnings per share (EPS) for the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%. The company had revenue of $427.76 million during the quarter.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.