Brokerages Expect LendingTree, Inc. (TREE) Will Announce Quarterly Sales of $159.06 Million
Analysts expect that LendingTree, Inc. (NASDAQ:TREE) will report $159.06 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for LendingTree’s earnings, with the highest sales estimate coming in at $160.20 million and the lowest estimate coming in at $157.50 million. LendingTree posted sales of $94.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 68.2%. The company is scheduled to report its next earnings report on Thursday, October 26th.
On average, analysts expect that LendingTree will report full-year sales of $159.06 million for the current financial year, with estimates ranging from $588.29 million to $590.91 million. For the next fiscal year, analysts forecast that the firm will report sales of $708.18 million per share, with estimates ranging from $640.64 million to $755.89 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow LendingTree.
LendingTree (NASDAQ:TREE) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.17. The business had revenue of $152.80 million for the quarter, compared to analyst estimates of $135.48 million. LendingTree had a net margin of 5.85% and a return on equity of 17.01%. The company’s revenue for the quarter was up 62.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share.
A number of brokerages recently commented on TREE. William Blair began coverage on shares of LendingTree in a research note on Wednesday, June 21st. They issued an “outperform” rating and a $173.00 price objective on the stock. Royal Bank Of Canada reissued a “buy” rating on shares of LendingTree in a research note on Friday, June 9th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $160.00 price objective (up from $140.00) on shares of LendingTree in a research note on Monday, May 1st. Stephens reissued an “overweight” rating and issued a $250.00 price objective (up from $200.00) on shares of LendingTree in a research note on Sunday, July 30th. Finally, CIBC increased their price objective on shares of LendingTree from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $178.07.
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LendingTree (TREE) opened at 229.25 on Monday. The stock has a market capitalization of $2.75 billion, a P/E ratio of 107.03 and a beta of 1.58. The stock has a 50 day moving average of $180.38 and a 200 day moving average of $142.34. LendingTree has a 1-year low of $75.05 and a 1-year high of $231.30.
In other LendingTree news, CEO Douglas R. Lebda sold 23,866 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $153.81, for a total transaction of $3,670,829.46. Following the sale, the chief executive officer now directly owns 575,248 shares of the company’s stock, valued at approximately $88,478,894.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Ozonian sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $145.26, for a total transaction of $363,150.00. Following the sale, the director now directly owns 15,446 shares in the company, valued at $2,243,685.96. The disclosure for this sale can be found here. Insiders have sold a total of 118,145 shares of company stock worth $18,548,851 over the last ninety days. 21.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TREE. Great West Life Assurance Co. Can raised its position in shares of LendingTree by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 10,160 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 471 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of LendingTree during the first quarter valued at $1,203,000. Advisory Services Network LLC bought a new position in shares of LendingTree during the first quarter valued at $814,000. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of LendingTree by 7.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 270,675 shares of the financial services provider’s stock valued at $33,929,000 after buying an additional 17,765 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its position in shares of LendingTree by 1.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 34,867 shares of the financial services provider’s stock valued at $4,371,000 after buying an additional 505 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.
LendingTree Company Profile
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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