LendingClub Corp (LC) Expected to Announce Quarterly Sales of $169.40 Million

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Wall Street analysts expect LendingClub Corp (NYSE:LC) to post $169.40 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for LendingClub’s earnings, with the highest sales estimate coming in at $171.90 million and the lowest estimate coming in at $167.50 million. LendingClub reported sales of $151.67 million in the same quarter last year, which indicates a positive year over year growth rate of 11.7%. The firm is scheduled to announce its next earnings report on Tuesday, May 14th.

On average, analysts expect that LendingClub will report full year sales of $778.06 million for the current year, with estimates ranging from $773.95 million to $783.30 million. For the next year, analysts expect that the business will report sales of $894.34 million, with estimates ranging from $853.00 million to $955.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, February 19th. The credit services provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $181.52 million for the quarter, compared to analyst estimates of $181.84 million. LendingClub had a negative net margin of 18.47% and a negative return on equity of 3.34%.

LC has been the topic of several recent research reports. Maxim Group reaffirmed a “buy” rating and set a $4.50 target price on shares of LendingClub in a report on Wednesday, February 20th. Wedbush set a $4.00 target price on shares of LendingClub and gave the company a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research lowered shares of LendingClub from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $4.66.

Shares of NYSE:LC traded down $0.06 during trading on Friday, reaching $2.98. The company had a trading volume of 2,047,930 shares, compared to its average volume of 2,201,326. The company has a debt-to-equity ratio of 2.71, a current ratio of 5.81 and a quick ratio of 4.37. LendingClub has a 12 month low of $2.46 and a 12 month high of $4.55. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -42.57 and a beta of 1.66.

In other news, CFO Thomas W. Casey purchased 15,000 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were acquired at an average price of $2.98 per share, with a total value of $44,700.00. Following the acquisition, the chief financial officer now directly owns 190,805 shares in the company, valued at $568,598.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Simon Williams sold 116,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $3.25, for a total transaction of $377,000.00. Following the completion of the sale, the director now directly owns 784 shares in the company, valued at approximately $2,548. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. grew its holdings in LendingClub by 6.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock worth $235,000 after acquiring an additional 5,771 shares during the last quarter. Karp Capital Management Corp grew its holdings in LendingClub by 5.2% in the 4th quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock worth $317,000 after acquiring an additional 6,000 shares during the last quarter. Legal & General Group Plc grew its holdings in LendingClub by 5.7% in the 4th quarter. Legal & General Group Plc now owns 142,560 shares of the credit services provider’s stock worth $375,000 after acquiring an additional 7,653 shares during the last quarter. Wiley BROS. Aintree Capital LLC bought a new stake in LendingClub in the 4th quarter worth $26,000. Finally, United Services Automobile Association grew its holdings 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 acquiring an additional 12,474 shares during the last quarter. 88.65% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Company Profile

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

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Earnings History and Estimates for LendingClub (NYSE:LC)

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