Yirendai (NYSE:YRD) issued its quarterly earnings results on Wednesday. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.25, Briefing.com reports. Yirendai had a return on equity of 70.10% and a net margin of 27.09%. The business had revenue of $280.50 million during the quarter, compared to analyst estimates of $244.27 million. During the same quarter in the prior year, the business posted $0.91 EPS. Yirendai’s revenue for the quarter was up 81.8% compared to the same quarter last year.
Shares of Yirendai (YRD) traded down $0.67 during trading hours on Wednesday, hitting $41.72. 795,683 shares of the stock were exchanged, compared to its average volume of 489,208. The stock has a market capitalization of $2,490.00 and a price-to-earnings ratio of 12.27. Yirendai has a fifty-two week low of $22.76 and a fifty-two week high of $53.50.
Several research analysts have commented on YRD shares. Zacks Investment Research raised shares of Yirendai from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Friday, November 17th. Citigroup initiated coverage on shares of Yirendai in a report on Tuesday, November 14th. They issued a “buy” rating for the company. Needham & Company LLC increased their price target on shares of Yirendai from $42.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. TheStreet raised shares of Yirendai from a “c” rating to a “b-” rating in a report on Monday, December 18th. Finally, Macquarie initiated coverage on shares of Yirendai in a report on Tuesday, November 14th. They issued an “outperform” rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $52.00.
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Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
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