Yirendai Ltd. (NYSE:YRD) posted its quarterly earnings data on Tuesday. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04), Briefing.com reports. The business had revenue of $227.50 million during the quarter, compared to analyst estimates of $201.27 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 73.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS.
Shares of Yirendai (YRD) opened at $41.75 on Wednesday. The firm has a market capitalization of $2,500.79, a price-to-earnings ratio of 12.84 and a beta of 8.34. Yirendai has a 52-week low of $19.85 and a 52-week high of $53.50.
A number of research firms have commented on YRD. ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Macquarie began coverage on Yirendai in a research report on Tuesday. They set an “outperform” rating and a $60.00 target price for the company. Zacks Investment Research upgraded Yirendai from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Friday, August 4th. Citigroup Inc. began coverage on Yirendai in a research report on Tuesday. They set a “buy” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 target price (up previously from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.00.
An institutional investor recently bought a new position in Yirendai stock. State Street Corp bought a new position in shares of Yirendai Ltd. (NYSE:YRD) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,600 shares of the technology company’s stock, valued at approximately $365,000. Institutional investors own 6.62% 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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