$0.01 EPS Expected for LendingClub Corp (NYSE:LC) This Quarter

Analysts forecast that LendingClub Corp (NYSE:LC) will post earnings of $0.01 per share for the current quarter, according to Zacks. Four analysts have made estimates for LendingClub’s earnings, with estimates ranging from $0.00 to $0.03. LendingClub posted earnings per share of $0.15 during the same quarter last year, which would indicate a negative year over year growth rate of 93.3%. The company is expected to report its next quarterly earnings results after the market closes 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 fiscal year, analysts expect that the firm will post earnings of $0.40 per share, with EPS estimates ranging from $0.21 to $0.71. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $190.80 million during 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 2.67%. LendingClub’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share.

LC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Morgan Stanley reduced their price objective on shares of LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Maxim Group set a $23.00 price objective on shares of LendingClub and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BTIG Research reduced their price objective on shares of LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. LendingClub presently has an average rating of “Buy” and a consensus target price of $21.00.

NYSE:LC traded up $0.03 during trading hours on Tuesday, reaching $12.83. The company’s stock had a trading volume of 281,414 shares, compared to its average volume of 581,034. The company has a market capitalization of $1.12 billion, a P/E ratio of -36.66 and a beta of 1.60. LendingClub has a 12 month low of $10.89 and a 12 month high of $19.17. The company has a debt-to-equity ratio of 2.11, a quick ratio of 5.81 and a current ratio of 7.06. The stock has a 50 day moving average price of $13.16 and a two-hundred day moving average price of $8.96.

In other LendingClub news, CFO Valerie Kay sold 10,000 shares of LendingClub stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $24.53, for a total value of $245,300.00. Also, Director Susan C. Athey sold 6,000 shares of LendingClub stock in a transaction on Monday, August 12th. The stock was sold at an average price of $15.04, for a total transaction of $90,240.00. The disclosure for this sale can be found here. Insiders sold 28,563 shares of company stock valued at $510,603 in the last three months. 4.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Assenagon Asset Management S.A. purchased a new stake in shares of LendingClub during the third quarter valued at $2,056,000. Rothschild & Co Wealth Management UK Ltd purchased a new stake in shares of LendingClub during the second quarter valued at $1,624,000. Harbourvest Partners LLC grew its holdings in shares of LendingClub by 3.5% during the second quarter. Harbourvest Partners LLC now owns 2,567,206 shares of the credit services provider’s stock valued at $8,420,000 after buying an additional 87,000 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of LendingClub during the second quarter valued at $4,253,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of LendingClub by 11.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,808,579 shares of the credit services provider’s stock valued at $5,932,000 after buying an additional 188,963 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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Earnings History and Estimates for LendingClub (NYSE:LC)

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