$0.01 Earnings Per Share Expected for LendingClub Corp (NYSE:LC) This Quarter

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Equities research analysts predict that LendingClub Corp (NYSE:LC) will announce earnings of $0.01 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for LendingClub’s earnings. The lowest EPS estimate is $0.00 and the highest is $0.03. LendingClub posted earnings of $0.15 per share during the same quarter last year, which indicates a negative year over year growth rate of 93.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that LendingClub will report full-year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.17) to ($0.08). For the next year, analysts forecast that the company will report earnings of $0.40 per share, with EPS estimates ranging from $0.21 to $0.71. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, August 6th. The credit services provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $192.04 million. LendingClub had a negative return on equity of 2.67% and a negative net margin of 9.14%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS.

LC has been the subject of several research analyst reports. BTIG Research restated a “buy” rating and set a $30.00 price target on shares of LendingClub in a report on Wednesday. ValuEngine upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut LendingClub from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Morgan Stanley cut their price target on LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Maxim Group set a $23.00 price target on LendingClub and gave the company a “buy” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.40.

NYSE LC traded up $0.02 during trading on Monday, hitting $11.62. 1,019,946 shares of the stock traded hands, compared to its average volume of 556,012. The company has a market capitalization of $1.01 billion, a P/E ratio of -33.20 and a beta of 1.60. The firm has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $8.01. The company has a quick ratio of 5.81, a current ratio of 7.06 and a debt-to-equity ratio of 2.11. LendingClub has a 12-month low of $11.16 and a 12-month high of $19.58.

In related news, President Steven Allocca bought 14,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $13.92 per share, for a total transaction of $194,880.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Timothy Bogan sold 10,463 shares of LendingClub stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total value of $150,039.42. Following the completion of the transaction, the insider now owns 59,541 shares of the company’s stock, valued at approximately $853,817.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,663 shares of company stock valued at $242,921. Company insiders own 4.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of LendingClub in the 2nd quarter worth approximately $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of LendingClub in the 2nd quarter worth approximately $54,000. SG Americas Securities LLC purchased a new position in shares of LendingClub in the 1st quarter worth approximately $60,000. Mizuho Securities Co. Ltd. purchased a new position in shares of LendingClub in the 2nd quarter worth approximately $66,000. Finally, Prudential Financial Inc. boosted its holdings in shares of LendingClub by 9.0% in the 2nd quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 1,930 shares during the period.

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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