LendingClub Corporation (LC) Scheduled to Post Quarterly Earnings on Tuesday
LendingClub Corporation (NYSE:LC) will announce its earnings results after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of $0.03 per share for the quarter.
LendingClub Corporation (NYSE:LC) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The firm had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. On average, analysts expect LendingClub Corporation to post $-0.14 EPS for the current fiscal year and $0.02 EPS for the next fiscal year.
LendingClub Corporation (NYSE LC) traded up 0.615% during trading on Tuesday, reaching $5.725. 1,312,872 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $6.13 and its 200-day moving average price is $5.81. LendingClub Corporation has a 12 month low of $4.72 and a 12 month high of $6.79. The firm’s market cap is $2.36 billion.
LC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Thursday, July 6th. Morgan Stanley reiterated an “overweight” rating and set a $7.00 price target (down previously from $8.00) on shares of LendingClub Corporation in a research note on Thursday, July 6th. BidaskClub downgraded LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. UBS AG upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating and set a $7.00 price target for the company in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.78.
In other LendingClub Corporation news, COO Sameer Gulati sold 8,351 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $5.64, for a total value of $47,099.64. Following the completion of the transaction, the chief operating officer now owns 296,221 shares in the company, valued at approximately $1,670,686.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 46,667 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was 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 90 days, insiders sold 213,116 shares of company stock valued at $1,288,135. 11.40% of the stock is owned by corporate insiders.
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About LendingClub Corporation
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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