Zacks Investment Research Lowers Yirendai Ltd. (YRD) to Hold
Zacks Investment Research downgraded shares of Yirendai Ltd. (NYSE:YRD) from a buy rating to a hold rating in a research note issued to investors on Saturday.
According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “
Other equities analysts have also recently issued reports about the company. ValuEngine cut Yirendai from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price target (up from $33.00) on shares of Yirendai in a research note on Tuesday, August 1st. They noted that the move was a valuation call.
Shares of Yirendai (NYSE:YRD) opened at 42.66 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of 12.67 and a beta of 8.56. The company has a 50-day moving average price of $37.71 and a 200 day moving average price of $28.42. Yirendai has a one year low of $18.80 and a one year high of $42.69.
Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $773.79 million during the quarter, compared to analysts’ expectations of $153.78 million. Yirendai had a return on equity of 80.79% and a net margin of 32.37%. Yirendai’s revenue for the quarter was up 343.4% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Equities analysts anticipate that Yirendai will post $2.94 EPS for the current year.
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The business also recently declared a special dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th.
A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Yirendai by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 31,505 shares of the technology company’s stock worth $788,000 after purchasing an additional 1,283 shares during the period. Bank of America Corp DE increased its stake in Yirendai by 24.5% in the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,504 shares during the period. Navellier & Associates Inc increased its stake in Yirendai by 11.5% in the 2nd quarter. Navellier & Associates Inc now owns 18,048 shares of the technology company’s stock worth $451,000 after purchasing an additional 1,861 shares during the period. Global X Management Co. LLC increased its stake in Yirendai by 399.0% in the 2nd quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock worth $206,000 after purchasing an additional 6,576 shares during the period. Finally, Sei Investments Co. purchased a new position in Yirendai in the 1st quarter worth approximately $176,000. 6.87% of the stock is currently owned by institutional investors and hedge funds.
Yirendai Company Profile
Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
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