Brokerages expect that LendingClub Corporation (NYSE:LC) will report sales of $155.47 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for LendingClub Corporation’s earnings, with the lowest sales estimate coming in at $149.00 million and the highest estimate coming in at $160.70 million. LendingClub Corporation reported sales of $112.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 38.1%. The company is expected to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that LendingClub Corporation will report full-year sales of $155.47 million for the current fiscal year, with estimates ranging from $569.00 million to $608.30 million. For the next year, analysts anticipate that the company will post sales of $734.86 million per share, with estimates ranging from $676.10 million to $909.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover LendingClub Corporation.
LendingClub Corporation (NYSE:LC) last posted its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $134.02 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm’s revenue was up 35.0% compared to the same quarter last year.
LC has been the topic of a number of recent analyst reports. BTIG Research restated a “buy” rating and issued a $9.00 price target on shares of LendingClub Corporation in a research report on Monday, May 8th. Zacks Investment Research cut LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Susquehanna Bancshares Inc upgraded LendingClub Corporation from a “neutral” rating to a “positive” rating and raised their price target for the stock from $6.00 to $9.00 in a research report on Monday, May 1st. Vetr upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Monday, May 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $7.00 price target (down previously from $8.00) on shares of LendingClub Corporation in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.78.
In other news, CEO Scott Sanborn sold 18,150 shares of LendingClub Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $6.08, for a total transaction of $110,352.00. Following the sale, the chief executive officer now directly owns 958,074 shares of the company’s stock, valued at $5,825,089.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel T. Ciporin purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $5.92 per share, for a total transaction of $59,200.00. Following the completion of the purchase, the director now directly owns 1,014,809 shares of the company’s stock, valued at approximately $6,007,669.28. The disclosure for this purchase can be found here. Insiders have sold 188,099 shares of company stock worth $1,118,285 over the last three months. Insiders own 11.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in LC. Prudential Financial Inc. raised its position in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares in the last quarter. Teacher Retirement System of Texas raised its position in LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares in the last quarter. Blair William & Co. IL raised its position in LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares in the last quarter. GSA Capital Partners LLP bought a new position in LendingClub Corporation during the second quarter worth approximately $150,000. Finally, Malaga Cove Capital LLC raised its position in LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock worth $147,000 after buying an additional 1,000 shares in the last quarter. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
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LendingClub Corporation (NYSE:LC) traded up 0.49% on Friday, reaching $6.13. 2,188,781 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.53 and a 200 day moving average of $5.61. LendingClub Corporation has a 12 month low of $4.64 and a 12 month high of $6.78. The stock’s market capitalization is $2.52 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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