LendingClub Corp (NYSE:LC) Expected to Post Quarterly Sales of $149.58 Million

Brokerages expect that LendingClub Corp (NYSE:LC) will report sales of $149.58 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for LendingClub’s earnings, with the highest sales estimate coming in at $202.10 million and the lowest estimate coming in at $45.64 million. LendingClub reported sales of $190.81 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.6%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 4th.

On average, analysts expect that LendingClub will report full year sales of $561.62 million for the current fiscal year, with estimates ranging from $314.29 million to $810.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $679.18 million, with estimates ranging from $378.17 million to $858.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover LendingClub.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, May 5th. The credit services provider reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.40). LendingClub had a negative return on equity of 2.94% and a negative net margin of 8.36%. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $174.66 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was down 31.1% on a year-over-year basis.

A number of research firms recently commented on LC. Morgan Stanley decreased their price objective on LendingClub from $14.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. ValuEngine upgraded shares of LendingClub from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Credit Suisse Group dropped their price target on shares of LendingClub from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Maxim Group cut shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Zacks Investment Research cut shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. LendingClub presently has an average rating of “Hold” and an average price target of $12.39.

NYSE LC traded down $0.10 on Monday, reaching $5.26. 638,408 shares of the company were exchanged, compared to its average volume of 1,371,965. The business’s fifty day moving average price is $6.98 and its 200 day moving average price is $10.79. The stock has a market capitalization of $374.50 million, a P/E ratio of -4.31 and a beta of 1.28. The company has a current ratio of 5.78, a quick ratio of 3.78 and a debt-to-equity ratio of 2.03. LendingClub has a fifty-two week low of $4.89 and a fifty-two week high of $16.50.

In related news, CFO Thomas W. Casey purchased 5,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were bought at an average price of $10.11 per share, for a total transaction of $50,550.00. Following the acquisition, the chief financial officer now directly owns 94,777 shares in the company, valued at $958,195.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,600 shares of company stock valued at $68,837 over the last three months. 4.48% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in LendingClub by 30.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,732 shares of the credit services provider’s stock worth $58,000 after purchasing an additional 1,094 shares in the last quarter. Bank of Montreal Can boosted its stake in LendingClub by 27.4% during the 4th quarter. Bank of Montreal Can now owns 8,515 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 1,832 shares during the last quarter. Rhumbline Advisers increased its position in shares of LendingClub by 2.0% in the 4th quarter. Rhumbline Advisers now owns 105,447 shares of the credit services provider’s stock worth $1,331,000 after purchasing an additional 2,096 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of LendingClub by 69.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,234 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 2,151 shares in the last quarter. Finally, Meitav Dash Investments Ltd. lifted its position in shares of LendingClub by 9.0% during the fourth quarter. Meitav Dash Investments Ltd. now owns 28,588 shares of the credit services provider’s stock worth $361,000 after purchasing an additional 2,368 shares during the last quarter.

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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