Zacks: Analysts Set $38.50 Target Price for Yirendai Ltd. (YRD)

Shares of Yirendai Ltd. (NYSE:YRD) have been given a consensus broker rating score of 2.67 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

Analysts have set a one year consensus target price of $38.50 for the company and are expecting that the company will post $0.78 earnings per share for the current quarter, according to Zacks. Zacks has also given Yirendai an industry rank of 93 out of 265 based on the ratings given to related companies.

A number of research analysts have recently commented on YRD shares. Zacks Investment Research upgraded Yirendai from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research report on Wednesday, May 24th. Needham & Company LLC reiterated a “buy” rating and set a $42.00 target price (up from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call. Finally, ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st.

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Shares of Yirendai (NYSE:YRD) traded up 3.72% during midday trading on Friday, reaching $42.66. 361,595 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $37.71 and its 200 day moving average price is $28.42. Yirendai has a one year low of $18.80 and a one year high of $42.69. The firm has a market capitalization of $2.55 billion, a PE ratio of 12.67 and a beta of 8.56.

Yirendai (NYSE:YRD) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $773.79 million for the quarter, compared to the consensus estimate of $153.78 million. Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The firm’s revenue was up 343.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, equities research analysts expect that Yirendai will post $2.94 earnings per share for the current fiscal year.

The business also recently declared a special dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc lifted its position in Yirendai by 11.5% in the second quarter. Navellier & Associates Inc now owns 18,048 shares of the technology company’s stock worth $451,000 after buying an additional 1,861 shares during the last quarter. Sylebra HK Co Ltd lifted its position in Yirendai by 133.3% in the second quarter. Sylebra HK Co Ltd now owns 857,694 shares of the technology company’s stock worth $21,442,000 after buying an additional 490,089 shares during the last quarter. State Street Corp bought a new stake in Yirendai in the second quarter worth $365,000. Dimensional Fund Advisors LP lifted its position in Yirendai by 92.4% in the second quarter. Dimensional Fund Advisors LP now owns 470,161 shares of the technology company’s stock worth $11,754,000 after buying an additional 225,794 shares during the last quarter. Finally, FMR LLC bought a new stake in Yirendai in the second quarter worth $300,000. Institutional investors own 6.87% of the company’s stock.

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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