$191.67 Million in Sales Expected for LendingClub Corp (NYSE:LC) This Quarter

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Wall Street brokerages forecast that LendingClub Corp (NYSE:LC) will report sales of $191.67 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for LendingClub’s earnings. The highest sales estimate is $196.10 million and the lowest is $188.57 million. LendingClub posted sales of $176.98 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The business is expected to issue its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that LendingClub will report full-year sales of $777.18 million for the current year, with estimates ranging from $769.10 million to $780.00 million. For the next financial year, analysts expect that the firm will post sales of $874.10 million, with estimates ranging from $854.79 million to $901.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The business had revenue of $174.40 million during the quarter, compared to analyst estimates of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS.

A number of brokerages have issued reports on LC. ValuEngine lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, June 14th. Zacks Investment Research downgraded LendingClub from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Wedbush upgraded LendingClub from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $18.75 to $25.00 in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. LendingClub currently has a consensus rating of “Hold” and a consensus price target of $23.75.

In other news, Director Mary G. Meeker sold 276,500 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $3.41, for a total value of $942,865.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valerie Kay sold 9,500 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $2.98, for a total value of $28,310.00. Following the completion of the sale, the insider now owns 242,981 shares of the company’s stock, valued at approximately $724,083.38. The disclosure for this sale can be found here. Insiders sold 1,045,833 shares of company stock valued at $3,517,142 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LC. SG Americas Securities LLC purchased a new stake in shares of LendingClub in the first quarter valued at $60,000. United Services Automobile Association lifted its holdings in shares of LendingClub by 21.3% in the fourth quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 12,474 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in shares of LendingClub in the first quarter valued at $204,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of LendingClub by 6.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock valued at $235,000 after purchasing an additional 5,771 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of LendingClub by 248.3% during the first quarter. BNP Paribas Arbitrage SA now owns 76,299 shares of the credit services provider’s stock worth $236,000 after acquiring an additional 54,392 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

NYSE LC traded up $0.02 on Tuesday, reaching $3.07. 7,522,489 shares of the stock traded hands, compared to its average volume of 2,999,042. The stock’s fifty day moving average price is $3.02. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.93 and a current ratio of 4.88. The company has a market capitalization of $1.33 billion, a P/E ratio of -43.86 and a beta of 1.59. LendingClub has a 12 month low of $2.46 and a 12 month high of $4.55.

LendingClub shares are scheduled to reverse split on Monday, July 8th. The 1-5 reverse split was announced on Friday, June 28th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, July 5th.

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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