Yirendai Ltd – (YRD) Stock Price Down 15.3%
Shares of Yirendai Ltd – (NYSE:YRD) dropped 15.3% during trading on Thursday . The company traded as low as $20.10 and last traded at $20.40, with a volume of 2,538,102 shares traded. The stock had previously closed at $24.09.
YRD has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Yirendai Ltd – from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Needham & Company LLC lifted their target price on shares of Yirendai Ltd – from $14.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Nomura cut shares of Yirendai Ltd – from a “neutral” rating to a “reduce” rating in a research note on Wednesday, August 10th.
The company’s 50 day moving average is $26.06 and its 200 day moving average is $15.11. The firm has a market capitalization of $1.19 billion and a price-to-earnings ratio of 12.78.
Yirendai Ltd – (NYSE:YRD) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.10. The business had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $97.01 million. The company’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Yirendai Ltd – will post $1.69 earnings per share for the current year.
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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