Wall Street brokerages predict that LendingClub Corp (NYSE:LC) will announce sales of $157.21 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LendingClub’s earnings, with estimates ranging from $155.00 million to $159.04 million. LendingClub posted sales of $129.20 million in the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that LendingClub will report full-year sales of $157.21 million for the current financial year, with estimates ranging from $573.00 million to $577.13 million. For the next fiscal year, analysts expect that the company will report sales of $687.37 million per share, with estimates ranging from $680.00 million to $704.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow LendingClub.
LendingClub (NYSE:LC) last announced its earnings results on Tuesday, November 7th. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. LendingClub had a negative net margin of 17.19% and a negative return on equity of 9.06%.
In other LendingClub news, major shareholder Tian Qiao Chen bought 21,927,175 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were acquired at an average price of $3.90 per share, with a total value of $85,515,982.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Sameer Gulati sold 8,351 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $5.64, for a total transaction of $47,099.64. Following the completion of the transaction, the chief operating officer now directly owns 296,221 shares in the company, valued at approximately $1,670,686.44. The disclosure for this sale can be found here. In the last quarter, insiders acquired 25,957,175 shares of company stock worth $100,843,283. 9.72% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of LendingClub in the 3rd quarter valued at $103,000. Prudential Financial Inc. raised its stake in shares of LendingClub by 5.4% in the 2nd quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 1,170 shares during the period. GSA Capital Partners LLP purchased a new position in shares of LendingClub in the 2nd quarter valued at $150,000. Phoenix Investment Adviser LLC purchased a new position in shares of LendingClub in the 4th quarter valued at $124,000. Finally, Advisor Group Inc. raised its stake in shares of LendingClub by 45.9% in the 2nd quarter. Advisor Group Inc. now owns 31,142 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 9,802 shares during the period. 86.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of LendingClub (LC) traded down $0.13 during midday trading on Friday, reaching $4.02. 8,531,964 shares of the company were exchanged, compared to its average volume of 5,903,740. LendingClub has a 1 year low of $3.29 and a 1 year high of $6.78. The firm has a market capitalization of $1,721.71, a price-to-earnings ratio of -17.48 and a beta of 1.60. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.
TRADEMARK VIOLATION NOTICE: “LendingClub Corp (LC) Expected to Post Quarterly Sales of $157.21 Million” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2018/01/20/lendingclub-corp-lc-expected-to-post-quarterly-sales-of-157-21-million.html.
LendingClub 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.