LendingClub Corporation (LC) Expected to Post Quarterly Sales of $155.47 Million

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.

ILLEGAL ACTIVITY NOTICE: “LendingClub Corporation (LC) Expected to Post Quarterly Sales of $155.47 Million” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/09/13/lendingclub-corporation-lc-expected-to-post-quarterly-sales-of-155-47-million.html.

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.

Get a free copy of the Zacks research report on LendingClub Corporation (LC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for LendingClub Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply