$154.36 Million in Sales Expected for LendingClub Corporation (LC) This Quarter
Brokerages expect LendingClub Corporation (NYSE:LC) to post $154.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for LendingClub Corporation’s earnings, with the highest sales estimate coming in at $158.00 million and the lowest estimate coming in at $149.24 million. LendingClub Corporation posted sales of $112.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 37.1%. The company is scheduled to announce its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that LendingClub Corporation will report full year sales of $154.36 million for the current financial year, with estimates ranging from $569.00 million to $595.30 million. For the next financial year, analysts expect that the business will report sales of $730.19 million per share, with estimates ranging from $676.10 million to $909.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow LendingClub Corporation.
LendingClub Corporation (NYSE:LC) last issued its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $139.60 million during the quarter, compared to analyst estimates of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. LendingClub Corporation’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS.
Several equities research analysts have weighed in on LC shares. BidaskClub downgraded shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine cut LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Stifel Nicolaus reissued a “hold” rating and issued a $6.50 price objective on shares of LendingClub Corporation in a research note on Thursday, August 10th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 target price on shares of LendingClub Corporation in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. LendingClub Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.78.
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In other news, COO Sameer Gulati sold 8,305 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total transaction of $42,189.40. Following the sale, the chief operating officer now owns 265,657 shares in the company, valued at approximately $1,349,537.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott Sanborn sold 46,667 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $5.77, for a total transaction of $269,268.59. Following the sale, the chief executive officer now owns 970,337 shares in the company, valued at approximately $5,598,844.49. The disclosure for this sale can be found here. Insiders have sold 188,070 shares of company stock valued at $1,120,725 in the last three months. 11.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its stake in LendingClub Corporation by 3.6% during the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after purchasing an additional 760 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares in the last quarter. Blair William & Co. IL boosted its stake in LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in LendingClub Corporation in the second quarter worth approximately $150,000. Finally, Brighton Jones LLC purchased a new stake in LendingClub Corporation in the second quarter worth approximately $154,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
LendingClub Corporation (NYSE LC) traded up 1.834% on Tuesday, hitting $6.385. 2,311,276 shares of the stock traded hands. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.79. The company’s market cap is $2.63 billion. The stock has a 50-day moving average price of $6.08 and a 200 day moving average price of $5.70.
LendingClub Corporation Company Profile
LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.
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