Q3 2019 EPS Estimates for LendingClub Corp Increased by Analyst (NYSE:LC)

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LendingClub Corp (NYSE:LC) – Stock analysts at Wedbush increased their Q3 2019 earnings per share estimates for shares of LendingClub in a research report issued to clients and investors on Wednesday, August 7th. Wedbush analyst H. Coffey now forecasts that the credit services provider will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.01). Wedbush has a “Outperform” rating and a $25.00 price objective on the stock. Wedbush also issued estimates for LendingClub’s Q4 2019 earnings at $0.05 EPS.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The company had revenue of $190.80 million for the quarter, compared to the consensus estimate of $192.04 million. LendingClub had a negative net margin of 9.14% and a negative return on equity of 2.68%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share.

LC has been the topic of a number of other research reports. Maxim Group set a $23.00 price objective on shares of LendingClub and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of LendingClub from $23.75 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Zacks Investment Research downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. LendingClub currently has a consensus rating of “Hold” and a consensus price target of $20.63.

Shares of LendingClub stock opened at $15.24 on Friday. The company has a market capitalization of $1.28 billion, a P/E ratio of -43.54 and a beta of 1.58. The firm’s 50 day moving average is $10.92. LendingClub has a twelve month low of $12.30 and a twelve month high of $20.15. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27.

In other LendingClub news, insider Valerie Kay sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $3.10, for a total transaction of $29,450.00. Following the completion of the sale, the insider now directly owns 241,851 shares of the company’s stock, valued at $749,738.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary G. Meeker sold 276,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $3.41, for a total transaction of $942,865.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 936,333 shares of company stock valued at $3,129,362. 4.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in LC. Nikko Asset Management Americas Inc. increased its holdings in LendingClub by 35.2% during the second quarter. Nikko Asset Management Americas Inc. now owns 25,692,140 shares of the credit services provider’s stock valued at $84,270,000 after buying an additional 6,690,424 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of LendingClub by 22.4% in the first quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after purchasing an additional 3,926,187 shares in the last quarter. Norges Bank purchased a new stake in shares of LendingClub in the fourth quarter worth $7,608,000. Geode Capital Management LLC increased its stake in shares of LendingClub by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 4,048,074 shares of the credit services provider’s stock worth $10,646,000 after purchasing an additional 392,103 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of LendingClub by 372.9% in the second quarter. JPMorgan Chase & Co. now owns 368,887 shares of the credit services provider’s stock worth $1,095,000 after purchasing an additional 290,875 shares in the last quarter.

About LendingClub

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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