$197.89 Million in Sales Expected for LendingClub Corp (NYSE:LC) This Quarter

Wall Street brokerages expect LendingClub Corp (NYSE:LC) to announce sales of $197.89 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for LendingClub’s earnings. The highest sales estimate is $199.87 million and the lowest is $196.00 million. LendingClub posted sales of $181.52 million during the same quarter last year, which suggests a positive year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that LendingClub will report full-year sales of $770.73 million for the current financial year, with estimates ranging from $766.00 million to $780.00 million. For the next fiscal year, analysts forecast that the business will report sales of $869.93 million, with estimates ranging from $841.34 million to $899.83 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover LendingClub.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The company had revenue of $204.90 million for the quarter, compared to analysts’ expectations of $204.63 million. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. LendingClub’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share.

Several analysts recently issued reports on LC shares. Zacks Investment Research raised LendingClub from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday. BTIG Research cut their target price on LendingClub from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Maxim Group reissued a “buy” rating and issued a $23.00 target price on shares of LendingClub in a research note on Thursday, November 7th. Finally, ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. LendingClub currently has a consensus rating of “Buy” and an average target price of $20.40.

In other LendingClub news, CFO Valerie Kay sold 10,000 shares of LendingClub stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $24.53, for a total transaction of $245,300.00. Also, insider Timothy Bogan sold 11,425 shares of LendingClub stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $13.16, for a total value of $150,353.00. Following the sale, the insider now directly owns 48,116 shares in the company, valued at $633,206.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,225 shares of company stock worth $445,661. Insiders own 4.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LC. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of LendingClub during the third quarter valued at approximately $83,981,000. Nomura Holdings Inc. purchased a new position in shares of LendingClub during the third quarter valued at approximately $28,181,000. Nuveen Asset Management LLC purchased a new position in shares of LendingClub during the second quarter valued at approximately $4,253,000. Rothschild & Co Wealth Management UK Ltd purchased a new position in shares of LendingClub during the second quarter valued at approximately $1,624,000. Finally, BlackRock Inc. lifted its holdings in shares of LendingClub by 1.8% during the second quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock valued at $81,126,000 after purchasing an additional 425,690 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE LC traded up $0.19 during trading hours on Monday, hitting $13.02. The company’s stock had a trading volume of 320,865 shares, compared to its average volume of 552,259. The company has a debt-to-equity ratio of 1.97, a quick ratio of 4.20 and a current ratio of 5.93. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -37.20 and a beta of 1.63. LendingClub has a 12 month low of $10.89 and a 12 month high of $18.85. The business has a 50-day simple moving average of $13.40 and a 200-day simple moving average of $11.29.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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Earnings History and Estimates for LendingClub (NYSE:LC)

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