Zacks: Analysts Set $38.50 Price Target for Yirendai Ltd. (YRD)
Yirendai Ltd. (NYSE:YRD) has received an average broker rating score of 2.67 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 12 month consensus price target of $38.50 for the company and are forecasting that the company will post $0.78 earnings per share for the current quarter, according to Zacks. Zacks has also given Yirendai an industry rank of 80 out of 265 based on the ratings given to related companies.
A number of brokerages recently issued reports on YRD. ValuEngine cut shares of Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of Yirendai from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, August 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $42.00 price target (up from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call.
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Large investors have recently added to or reduced their stakes in the business. Sei Investments Co. bought a new stake in Yirendai during the 1st quarter valued at about $176,000. Bank of America Corp DE increased its stake in Yirendai by 24.5% during the 1st quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,504 shares in the last quarter. TIAA CREF Investment Management LLC bought a new stake in Yirendai during the 2nd quarter valued at about $204,000. Global X Management Co. LLC increased its stake in Yirendai by 399.0% during the 2nd quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock valued at $206,000 after purchasing an additional 6,576 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Yirendai during the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 6.87% of the company’s stock.
Shares of Yirendai (NYSE:YRD) opened at 41.79 on Friday. The company’s 50-day moving average price is $37.50 and its 200-day moving average price is $28.33. The firm has a market cap of $2.50 billion, a PE ratio of 12.55 and a beta of 8.56. Yirendai has a 52-week low of $18.80 and a 52-week high of $42.10.
Yirendai (NYSE:YRD) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by $0.04. Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The business had revenue of $773.79 million for the quarter, compared to analysts’ expectations of $153.78 million. During the same period last year, the business earned $0.66 earnings per share. The company’s revenue was up 343.4% on a year-over-year basis. Equities analysts expect that Yirendai will post $2.92 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, September 28th.
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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