LendingClub Co. (NYSE:LC) Expected to Post FY2021 Earnings of $0.64 Per Share

LendingClub Co. (NYSE:LC) – Analysts at Seaport Res Ptn issued their FY2021 EPS estimates for LendingClub in a report issued on Tuesday, January 11th. Seaport Res Ptn analyst W. Ryan forecasts that the credit services provider will post earnings per share of $0.64 for the year. Seaport Res Ptn currently has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for LendingClub’s Q4 2021 earnings at $0.23 EPS, Q1 2022 earnings at $0.23 EPS, Q2 2022 earnings at $0.39 EPS, Q3 2022 earnings at $0.56 EPS, Q4 2022 earnings at $0.57 EPS, FY2022 earnings at $1.75 EPS and FY2023 earnings at $2.70 EPS.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 27th. The credit services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.64. LendingClub had a positive return on equity of 2.56% and a negative net margin of 5.88%. The company had revenue of $246.20 million for the quarter, compared to the consensus estimate of $221.96 million. During the same quarter last year, the business posted ($0.25) earnings per share. The firm’s revenue was up 229.6% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on LC. Zacks Investment Research upgraded LendingClub from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, January 5th. Credit Suisse Group increased their price objective on LendingClub from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, October 28th. Maxim Group raised their price target on LendingClub from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 1st. Compass Point upgraded LendingClub from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $55.00 in a research report on Thursday, October 28th. Finally, Janney Montgomery Scott upgraded LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $41.67.

Shares of LC stock opened at $24.11 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.19 and a current ratio of 1.35. LendingClub has a 52-week low of $9.50 and a 52-week high of $49.21. The company has a market capitalization of $2.41 billion, a PE ratio of -56.07 and a beta of 2.04. The business’s fifty day moving average is $30.80 and its 200 day moving average is $28.13.

A number of large investors have recently made changes to their positions in LC. Spire Wealth Management raised its stake in LendingClub by 107.8% during the third quarter. Spire Wealth Management now owns 1,195 shares of the credit services provider’s stock valued at $34,000 after buying an additional 620 shares during the last quarter. First Quadrant L P CA purchased a new position in LendingClub during the third quarter valued at $41,000. Itau Unibanco Holding S.A. purchased a new position in LendingClub during the second quarter valued at $46,000. Northwestern Mutual Wealth Management Co. raised its stake in LendingClub by 183.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,681 shares of the credit services provider’s stock valued at $85,000 after buying an additional 3,031 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in LendingClub by 2,857.2% during the second quarter. Advisor Group Holdings Inc. now owns 5,737 shares of the credit services provider’s stock valued at $104,000 after buying an additional 5,543 shares during the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.

In other LendingClub news, Director Susan C. Athey sold 4,338 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $26.10, for a total value of $113,221.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Annie Armstrong sold 3,686 shares of LendingClub stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $31.31, for a total transaction of $115,408.66. The disclosure for this sale can be found here. Insiders have sold 15,396 shares of company stock worth $481,536 over the last ninety days. Insiders own 4.48% of the company’s stock.

LendingClub Company Profile

LendingClub Corp. engages in the operation of education and patient finance and auto loan services. Its loan product types consists of personal, education and patient finance, and auto. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for LendingClub (NYSE:LC)

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