Wall Street brokerages expect that LendingClub Corp (NYSE:LC) will announce $181.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for LendingClub’s earnings, with estimates ranging from $177.00 million to $188.80 million. LendingClub reported sales of $156.46 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The business is scheduled to issue its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that LendingClub will report full year sales of $693.85 million for the current fiscal year, with estimates ranging from $689.00 million to $702.10 million. For the next financial year, analysts forecast that the firm will post sales of $780.71 million, with estimates ranging from $762.03 million to $816.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow LendingClub.
LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, November 6th. The credit services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $184.65 million for the quarter, compared to analysts’ expectations of $182.63 million. LendingClub had a negative net margin of 30.89% and a negative return on equity of 4.02%. LendingClub’s revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share.
Separately, Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.20.
Hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC lifted its position in shares of LendingClub by 25.9% during the second quarter. MetLife Investment Advisors LLC now owns 147,374 shares of the credit services provider’s stock worth $559,000 after purchasing an additional 30,309 shares in the last quarter. BlackRock Inc. lifted its position in shares of LendingClub by 4.0% during the second quarter. BlackRock Inc. now owns 23,148,792 shares of the credit services provider’s stock worth $87,733,000 after purchasing an additional 890,814 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of LendingClub by 12.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,153,344 shares of the credit services provider’s stock worth $82,075,000 after purchasing an additional 2,354,789 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of LendingClub by 69.0% during the second quarter. Canada Pension Plan Investment Board now owns 1,756,600 shares of the credit services provider’s stock worth $6,658,000 after purchasing an additional 717,100 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of LendingClub by 16.3% during the third quarter. ARK Investment Management LLC now owns 18,001,802 shares of the credit services provider’s stock worth $69,847,000 after purchasing an additional 2,522,314 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of LC stock opened at $2.98 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -17.53 and a beta of 1.40. The company has a debt-to-equity ratio of 2.83, a quick ratio of 10.30 and a current ratio of 12.04. LendingClub has a fifty-two week low of $2.57 and a fifty-two week high of $4.55.
LendingClub Company Profile
LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.
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