$193.02 Million in Sales Expected for LendingClub Corp (LC) This Quarter

Equities analysts expect that LendingClub Corp (NYSE:LC) will post $193.02 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for LendingClub’s earnings. The lowest sales estimate is $188.57 million and the highest is $201.50 million. LendingClub reported sales of $176.98 million in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that LendingClub will report full-year sales of $781.28 million for the current year, with estimates ranging from $769.10 million to $796.00 million. For the next year, analysts forecast that the firm will post sales of $880.35 million, with estimates ranging from $854.79 million to $926.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow LendingClub.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $174.40 million for the quarter, compared to the consensus estimate of $170.45 million. LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. LendingClub’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS.

A number of research analysts have recently weighed in on the stock. Maxim Group restated a “buy” rating and set a $4.50 price target on shares of LendingClub in a report on Wednesday, February 20th. Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Saturday, May 11th. Finally, Wedbush set a $4.00 price target on shares of LendingClub and gave the company a “hold” rating in a report on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.88.

Shares of LendingClub stock traded down $0.12 during midday trading on Friday, reaching $3.08. 1,430,730 shares of the company’s stock traded hands, compared to its average volume of 2,922,543. The company has a market capitalization of $1.38 billion, a P/E ratio of -44.00 and a beta of 1.67. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27. LendingClub has a 52 week low of $2.46 and a 52 week high of $4.55.

In other news, CFO Thomas W. Casey bought 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were purchased at an average price of $2.98 per share, for a total transaction of $44,700.00. Following the acquisition, the chief financial officer now directly owns 190,805 shares of the company’s stock, valued at approximately $568,598.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bahman Koohestani sold 17,563 shares of LendingClub stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $2.98, for a total transaction of $52,337.74. Following the completion of the transaction, the insider now owns 114,754 shares in the company, valued at approximately $341,966.92. The disclosure for this sale can be found here. Insiders sold a total of 1,053,896 shares of company stock worth $3,540,125 in the last quarter. Insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in LC. Wiley BROS. Aintree Capital LLC bought a new position in LendingClub in the 4th quarter worth $26,000. NewFocus Financial Group LLC bought a new position in LendingClub in the 4th quarter worth $45,000. Telemus Capital LLC bought a new position in LendingClub in the 4th quarter worth $51,000. SG Americas Securities LLC bought a new position in LendingClub in the 1st quarter worth $60,000. Finally, United Services Automobile Association grew its position in LendingClub by 21.3% in the 4th quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 12,474 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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Earnings History and Estimates for LendingClub (NYSE:LC)

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