Equities research analysts predict that LendingClub Corporation (NYSE:LC) will post sales of $155.51 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for LendingClub Corporation’s earnings, with the highest sales estimate coming in at $160.70 million and the lowest estimate coming in at $149.24 million. LendingClub Corporation posted sales of $112.61 million during the same quarter last year, which would indicate a positive year over year growth rate of 38.1%. The firm is expected to report its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that LendingClub Corporation will report full year sales of $155.51 million for the current fiscal year, with estimates ranging from $569.00 million to $608.30 million. For the next year, analysts forecast that the firm will post sales of $734.86 million per share, with estimates ranging from $676.10 million to $909.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for LendingClub Corporation.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. LendingClub Corporation’s revenue was up 35.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share.

LC has been the topic of a number of research analyst reports. ValuEngine upgraded LendingClub Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Vetr lowered LendingClub Corporation from a “buy” rating to a “hold” rating and set a $6.55 target price on the stock. in a research note on Monday, September 4th. CIBC upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, BidaskClub lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.78.

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In other news, CFO Thomas W. Casey sold 7,287 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.08, for a total value of $44,304.96. Following the completion of the transaction, the chief financial officer now owns 39,758 shares in the company, valued at approximately $241,728.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 46,667 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $5.77, for a total value of $269,268.59. Following the completion of the transaction, the chief executive officer now owns 970,337 shares of the company’s stock, valued at approximately $5,598,844.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,099 shares of company stock valued at $1,118,285. Company insiders own 11.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LC. BlackRock Inc. lifted its stake in shares of LendingClub Corporation by 3,276.7% in the 1st quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after purchasing an additional 21,445,128 shares during the period. Jericho Capital Asset Management L.P. purchased a new position in shares of LendingClub Corporation in the 1st quarter valued at approximately $32,440,000. JPMorgan Chase & Co. lifted its stake in shares of LendingClub Corporation by 497.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock valued at $18,432,000 after purchasing an additional 2,785,549 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of LendingClub Corporation by 1,324.3% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,908,500 shares of the credit services provider’s stock valued at $16,026,000 after purchasing an additional 2,704,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of LendingClub Corporation by 1,284.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock valued at $15,382,000 after purchasing an additional 2,590,000 shares during the period. Institutional investors own 86.91% of the company’s stock.

Shares of LendingClub Corporation (LC) opened at 6.28 on Thursday. 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 $5.81 and a 200 day moving average price of $5.61. The firm’s market capitalization is $2.58 billion.

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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Earnings History and Estimates for LendingClub Corporation (NYSE:LC)

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