Zacks: Brokerages Expect LendingClub Corporation (LC) Will Announce Earnings of $0.03 Per Share
Equities analysts expect LendingClub Corporation (NYSE:LC) to report earnings of $0.03 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LendingClub Corporation’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.04. LendingClub Corporation posted earnings per share of ($0.04) during the same quarter last year, which would suggest a positive year over year growth rate of 175%. The company is expected to issue its next earnings results on Monday, November 6th.
On average, analysts expect that LendingClub Corporation will report full-year earnings of $0.04 per share for the current year, with EPS estimates ranging from ($0.01) to $0.08. For the next year, analysts expect that the business will post earnings of $0.22 per share, with EPS estimates ranging from $0.11 to $0.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow LendingClub Corporation.
LendingClub Corporation (NYSE:LC) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 35.0% on a year-over-year basis.
A number of equities analysts have weighed in on LC shares. Vetr upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.10 price target for the company in a report on Wednesday, May 24th. Zacks Investment Research upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, June 6th. Morgan Stanley restated an “overweight” rating and issued a $7.00 price target (down previously from $8.00) on shares of LendingClub Corporation in a report on Thursday, July 6th. BidaskClub cut LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, UBS AG upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.78.
Shares of LendingClub Corporation (LC) traded up 1.81% on Tuesday, reaching $6.18. 6,310,053 shares of the company were exchanged. The stock’s market capitalization is $2.54 billion. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78. The company has a 50-day moving average price of $5.86 and a 200 day moving average price of $5.62.
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In related news, COO Sameer Gulati sold 8,170 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $5.70, for a total transaction of $46,569.00. Following the transaction, the chief operating officer now directly owns 258,102 shares in the company, valued at $1,471,181.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Steven Allocca sold 35,378 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $6.09, for a total value of $215,452.02. Following the transaction, the president now owns 67,084 shares in the company, valued at $408,541.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,099 shares of company stock valued at $1,118,285. Company insiders own 11.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LC. BlackRock Inc. lifted its stake in LendingClub Corporation by 3,276.7% during the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after purchasing an additional 21,445,128 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in LendingClub Corporation during the first quarter worth $32,440,000. JPMorgan Chase & Co. lifted its stake in LendingClub Corporation by 497.8% during the second quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock worth $18,432,000 after purchasing an additional 2,785,549 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in LendingClub Corporation by 1,324.3% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,908,500 shares of the credit services provider’s stock worth $16,026,000 after purchasing an additional 2,704,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in LendingClub Corporation by 1,284.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock worth $15,382,000 after purchasing an additional 2,590,000 shares during the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.
LendingClub Corporation Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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