Zacks: Brokerages Anticipate LendingClub Corp (LC) Will Post Quarterly Sales of $157.21 Million

Brokerages predict that LendingClub Corp (NYSE:LC) will post $157.21 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for LendingClub’s earnings. The lowest sales estimate is $155.00 million and the highest is $159.04 million. LendingClub reported sales of $129.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 21.7%. The business is expected to issue its next earnings report on Tuesday, February 13th.

On average, analysts expect that LendingClub will report full year sales of $157.21 million for the current year, with estimates ranging from $573.00 million to $577.13 million. For the next fiscal year, analysts anticipate that the company will post sales of $687.37 million per share, with estimates ranging from $680.00 million to $704.93 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow LendingClub.

A number of equities analysts have commented on LC shares. BidaskClub cut LendingClub from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Zacks Investment Research lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Maxim Group restated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of LendingClub in a research report on Monday, December 11th. Oppenheimer restated a “buy” rating and issued a $5.00 price target on shares of LendingClub in a research report on Friday, December 8th. Finally, Needham & Company LLC initiated coverage on LendingClub in a research report on Wednesday, November 1st. They issued a “buy” rating and a $7.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.54.

In related news, CEO Scott Sanborn sold 47,273 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $4.23, for a total value of $199,964.79. Following the completion of the transaction, the chief executive officer now directly owns 1,034,734 shares in the company, valued at $4,376,924.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas W. Casey acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $4.17 per share, with a total value of $41,700.00. The disclosure for this purchase can be found here. Insiders purchased 25,957,175 shares of company stock valued at $100,843,283 over the last quarter. 9.72% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its stake in LendingClub by 0.7% during the second quarter. Amalgamated Bank now owns 41,156 shares of the credit services provider’s stock worth $227,000 after purchasing an additional 276 shares in the last quarter. Prudential Financial Inc. lifted its stake in LendingClub by 5.4% during the second quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 1,170 shares in the last quarter. Principal Financial Group Inc. lifted its stake in LendingClub by 3.7% during the second quarter. Principal Financial Group Inc. now owns 43,834 shares of the credit services provider’s stock worth $242,000 after purchasing an additional 1,574 shares in the last quarter. SG Americas Securities LLC lifted its stake in LendingClub by 4.6% during the second quarter. SG Americas Securities LLC now owns 45,466 shares of the credit services provider’s stock worth $251,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in LendingClub by 11.3% during the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after purchasing an additional 2,650 shares in the last quarter. Institutional investors own 86.45% of the company’s stock.

Shares of LendingClub (NYSE:LC) traded up $0.16 during trading on Wednesday, hitting $4.29. The company’s stock had a trading volume of 9,846,600 shares, compared to its average volume of 6,396,700. LendingClub has a fifty-two week low of $3.29 and a fifty-two week high of $6.78. The firm has a market capitalization of $1,800.00, a PE ratio of -18.65 and a beta of 1.60. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52.

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About LendingClub

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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