LendingClub Corp (LC) Expected to Post Earnings of $0.02 Per Share

Wall Street brokerages predict that LendingClub Corp (NYSE:LC) will post earnings per share of $0.02 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for LendingClub’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.03. LendingClub reported earnings of ($0.02) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The business is expected to announce its next quarterly earnings report on Tuesday, February 13th.

According to Zacks, analysts expect that LendingClub will report full year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.03. For the next financial year, analysts expect that the business will report earnings of $0.11 per share, with EPS estimates ranging from $0.07 to $0.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover LendingClub.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, November 7th. The credit services provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. LendingClub had a negative return on equity of 9.06% and a negative net margin of 17.19%.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research cut LendingClub from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Maxim Group restated a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of LendingClub in a research note on Monday, December 11th. Oppenheimer restated a “buy” rating and issued a $5.00 price objective on shares of LendingClub in a research note on Friday, December 8th. Stifel Nicolaus lowered their price objective on LendingClub from $5.00 to $4.50 and set a “hold” rating on the stock in a research note on Friday, December 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective (down from $7.00) on shares of LendingClub in a research note on Friday, December 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.54.

Shares of LendingClub (NYSE LC) opened at $4.14 on Thursday. The company has a market capitalization of $1,720.00, a price-to-earnings ratio of -18.00 and a beta of 1.60. LendingClub has a 52 week low of $3.29 and a 52 week high of $6.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.

In other LendingClub news, CEO Scott Sanborn sold 47,273 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $4.23, for a total value of $199,964.79. Following the completion of the sale, the chief executive officer now owns 1,034,734 shares of the company’s stock, valued at $4,376,924.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Sameer Gulati sold 8,351 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $5.64, for a total value of $47,099.64. Following the completion of the sale, the chief operating officer now directly owns 296,221 shares of the company’s stock, valued at approximately $1,670,686.44. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 25,957,175 shares of company stock valued at $100,843,283. 9.72% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in LC. JPMorgan Chase & Co. boosted its stake in shares of LendingClub by 497.8% during the second quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock valued at $18,432,000 after purchasing an additional 2,785,549 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of LendingClub by 85.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,183,823 shares of the credit services provider’s stock valued at $31,569,000 after acquiring an additional 2,392,223 shares in the last quarter. PDT Partners LLC bought a new position in shares of LendingClub during the second quarter valued at approximately $10,632,000. Jackson Square Partners LLC raised its holdings in shares of LendingClub by 23.3% during the second quarter. Jackson Square Partners LLC now owns 9,610,092 shares of the credit services provider’s stock valued at $52,951,000 after acquiring an additional 1,817,453 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in shares of LendingClub by 64.4% during the second quarter. Balyasny Asset Management LLC now owns 3,449,593 shares of the credit services provider’s stock valued at $19,007,000 after acquiring an additional 1,350,834 shares in the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

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About LendingClub

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

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