LendingClub Corp. to Post FY2018 Earnings of ($0.04) Per Share, FBR & Co Forecasts (LC)
LendingClub Corp. (NYSE:LC) – Stock analysts at FBR & Co issued their FY2018 earnings per share (EPS) estimates for LendingClub Corp. in a research note issued on Tuesday. FBR & Co analyst B. Ramsey expects that the brokerage will earn ($0.04) per share for the year. FBR & Co has a “Hold” rating and a $6.50 price objective on the stock.
LC has been the subject of a number of other research reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price target on shares of LendingClub Corp. in a report on Tuesday. Morgan Stanley raised shares of LendingClub Corp. from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Thursday, November 3rd. Pacific Crest reaffirmed a “hold” rating on shares of LendingClub Corp. in a report on Tuesday, August 9th. Vetr cut shares of LendingClub Corp. from a “strong-buy” rating to a “buy” rating and set a $5.11 price target for the company. in a report on Monday, July 18th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $5.00 price target on shares of LendingClub Corp. in a report on Monday, November 7th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.79.
Shares of LendingClub Corp. (NYSE:LC) traded up 4.24% on Thursday, reaching $6.14. 11,922,405 shares of the company traded hands. The company has a 50-day moving average of $5.52 and a 200-day moving average of $5.18. The stock’s market capitalization is $2.40 billion. LendingClub Corp. has a 1-year low of $3.44 and a 1-year high of $14.40.
LendingClub Corp. (NYSE:LC) last issued its earnings results on Monday, November 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company earned $112.60 million during the quarter, compared to the consensus estimate of $103.31 million. LendingClub Corp. had a negative net margin of 21.75% and a negative return on equity of 6.68%. LendingClub Corp.’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS.
In related news, insider John Macilwaine sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $5.01, for a total transaction of $250,500.00. Following the transaction, the insider now directly owns 409,308 shares in the company, valued at $2,050,633.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Sameer Gulati sold 5,854 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $4.95, for a total transaction of $28,977.30. Following the transaction, the chief operating officer now owns 952,838 shares in the company, valued at $4,716,548.10. The disclosure for this sale can be found here. Corporate insiders own 11.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tocqueville Asset Management L.P. raised its position in LendingClub Corp. by 1.5% in the second quarter. Tocqueville Asset Management L.P. now owns 56,031 shares of the company’s stock worth $241,000 after buying an additional 850 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of LendingClub Corp. during the second quarter worth approximately $600,000. Evergreen Capital Management LLC purchased a new position in shares of LendingClub Corp. during the second quarter worth approximately $2,205,000. Artemis Investment Management LLP increased its position in shares of LendingClub Corp. by 620.0% in the second quarter. Artemis Investment Management LLP now owns 108,000 shares of the company’s stock worth $463,000 after buying an additional 93,000 shares during the period. Finally, Tairen Capital Ltd purchased a new position in shares of LendingClub Corp. during the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.
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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