Zacks: Brokerages Anticipate Yirendai Ltd. (YRD) Will Announce Earnings of $0.70 Per Share
Wall Street analysts predict that Yirendai Ltd. (NYSE:YRD) will post earnings per share of $0.70 for the current quarter, Zacks reports. Zero analysts have made estimates for Yirendai’s earnings. Yirendai reported earnings per share of $0.67 in the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is expected to issue its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Yirendai will report full year earnings of $3.03 per share for the current financial year. For the next financial year, analysts forecast that the firm will post earnings of $4.85 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Yirendai.
Yirendai (NYSE:YRD) last announced its earnings results on Sunday, May 21st. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.60 by $0.24. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960 million. Yirendai had a net margin of 36.09% and a return on equity of 101.18%. The business’s quarterly revenue was up 83.8% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS.
A number of equities analysts have issued reports on the company. Needham & Company LLC cut their price target on Yirendai from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, March 17th. Zacks Investment Research upgraded Yirendai from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Wednesday, May 24th.
Several institutional investors have recently modified their holdings of the company. Sei Investments Co. purchased a new position in shares of Yirendai during the first quarter worth $176,000. Bank of America Corp DE raised its position in shares of Yirendai by 24.5% in the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after buying an additional 1,504 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Yirendai during the fourth quarter worth $220,000. GRATRY & Co LLC purchased a new position in shares of Yirendai during the first quarter worth $245,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Yirendai during the fourth quarter worth $309,000. 7.75% of the stock is currently owned by institutional investors.
Shares of Yirendai (NYSE:YRD) traded up 0.96% during mid-day trading on Monday, reaching $24.16. 232,779 shares of the company’s stock traded hands. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 7.44 and a beta of 8.29. The company has a 50 day moving average of $24.11 and a 200 day moving average of $24.33. Yirendai has a 12 month low of $12.81 and a 12 month high of $42.34.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Yirendai Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yirendai Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.