Zacks: Brokerages Expect LendingTree, Inc. (TREE) Will Announce Quarterly Sales of $159.06 Million
Equities analysts expect that LendingTree, Inc. (NASDAQ:TREE) will report sales of $159.06 million for the current quarter, according to Zacks. Four analysts have issued estimates for LendingTree’s earnings, with the highest sales estimate coming in at $160.20 million and the lowest estimate coming in at $157.50 million. LendingTree posted sales of $94.56 million in the same quarter last year, which suggests a positive year over year growth rate of 68.2%. The company is scheduled to report its next earnings results on Thursday, October 26th.
On average, analysts expect that LendingTree will report full-year sales of $159.06 million for the current financial year, with estimates ranging from $588.29 million to $590.91 million. For the next year, analysts anticipate that the firm will report sales of $708.18 million per share, with estimates ranging from $640.64 million to $755.89 million. Zacks’ sales calculations are an average based on a survey of research firms that cover LendingTree.
LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.17. The company had revenue of $152.80 million for the quarter, compared to analyst estimates of $135.48 million. LendingTree had a net margin of 5.85% and a return on equity of 17.01%. LendingTree’s revenue was up 62.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share.
A number of research analysts have weighed in on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $190.00 price objective (up previously from $160.00) on shares of LendingTree in a research report on Sunday, June 18th. Royal Bank Of Canada restated a “buy” rating on shares of LendingTree in a report on Friday, June 9th. Needham & Company LLC upped their price target on shares of LendingTree from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation restated a “buy” rating and issued a $190.00 price target (up from $160.00) on shares of LendingTree in a report on Friday, June 9th. Finally, William Blair assumed coverage on shares of LendingTree in a report on Wednesday, June 21st. They issued an “outperform” rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $183.00.
In other LendingTree news, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $156.52, for a total transaction of $1,252,160.00. Following the transaction, the chief executive officer now directly owns 529,746 shares in the company, valued at approximately $82,915,843.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Interactive Corp Liberty bought 450,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were acquired at an average price of $170.70 per share, for a total transaction of $76,815,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 44,850 shares of company stock worth $7,875,573. 21.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TREE. Teachers Advisors LLC boosted its position in shares of LendingTree by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 10,588 shares of the financial services provider’s stock valued at $1,073,000 after buying an additional 1,040 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of LendingTree by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 800 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of LendingTree by 66.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,500 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 3,800 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of LendingTree by 6.5% in the first quarter. Russell Investments Group Ltd. now owns 108,079 shares of the financial services provider’s stock valued at $13,548,000 after buying an additional 6,590 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of LendingTree by 1.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 34,867 shares of the financial services provider’s stock valued at $4,371,000 after buying an additional 505 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.
Shares of LendingTree (NASDAQ:TREE) traded up 3.23% during trading on Friday, hitting $229.95. 97,722 shares of the stock were exchanged. LendingTree has a 52 week low of $75.05 and a 52 week high of $235.30. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 107.35 and a beta of 1.58. The stock’s 50 day moving average price is $206.52 and its 200 day moving average price is $156.75.
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LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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