Q3 2016 EPS Estimates for LendingClub Corp. (LC) Boosted by Oppenheimer Holdings
LendingClub Corp. (NYSE:LC) – Equities researchers at Oppenheimer Holdings raised their Q3 2016 earnings per share (EPS) estimates for LendingClub Corp. in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst J. Kelly now anticipates that the brokerage will post earnings of ($0.09) per share for the quarter, up from their prior forecast of ($0.11). Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for LendingClub Corp.’s Q4 2016 earnings at ($0.06) EPS, FY2016 earnings at ($0.25) EPS, FY2017 earnings at ($0.05) EPS and FY2018 earnings at $0.06 EPS.
LendingClub Corp. (NYSE:LC) last issued its earnings results on Monday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.07. The firm earned $102.40 million during the quarter, compared to the consensus estimate of $110.65 million. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share.
A number of other equities research analysts have also recently commented on the stock. BTIG Research set a $9.00 price target on shares of LendingClub Corp. and gave the stock a “buy” rating in a report on Thursday, September 29th. Vetr cut shares of LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 price objective for the company. in a report on Monday, September 12th. Morgan Stanley reiterated an “equal weight” rating on shares of LendingClub Corp. in a report on Monday, September 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $5.00 price target on shares of LendingClub Corp. in a research report on Monday, August 15th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $5.00 price target (up from $4.70) on shares of LendingClub Corp. in a research report on Thursday, August 11th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. LendingClub Corp. currently has a consensus rating of “Hold” and a consensus price target of $13.03.
LendingClub Corp. (NYSE:LC) opened at 6.16 on Monday. The firm’s market cap is $2.41 billion. The company has a 50-day moving average of $5.75 and a 200-day moving average of $5.67. LendingClub Corp. has a 52 week low of $3.44 and a 52 week high of $15.00.
In related news, insider Sandeep Bhandari sold 9,771 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $5.55, for a total transaction of $54,229.05. Following the completion of the transaction, the insider now owns 219,600 shares of the company’s stock, valued at $1,218,780. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sameer Gulati sold 6,105 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $6.08, for a total transaction of $37,118.40. Following the transaction, the insider now directly owns 958,692 shares of the company’s stock, valued at approximately $5,828,847.36. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock valued at $100,000 after buying an additional 6,205 shares in the last quarter. Psagot Investment House Ltd. boosted its position in shares of LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock valued at $103,000 after buying an additional 15,000 shares in the last quarter. Geduld E E purchased a new position in shares of LendingClub Corp. during the second quarter valued at approximately $108,000. Ameritas Investment Partners Inc. purchased a new position in shares of LendingClub Corp. during the second quarter valued at approximately $110,000. Finally, Principal Financial Group Inc. purchased a new position in shares of LendingClub Corp. during the second quarter valued at approximately $111,000. 83.90% of the stock is owned by institutional investors.
About LendingClub Corp.
LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.
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