LendingClub Corp (NYSE:LC) Expected to Post Quarterly Sales of $204.26 Million

Equities research analysts expect LendingClub Corp (NYSE:LC) to post sales of $204.26 million for the current quarter, Zacks reports. Four analysts have made estimates for LendingClub’s earnings, with the highest sales estimate coming in at $205.80 million and the lowest estimate coming in at $201.14 million. LendingClub posted sales of $184.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 5th.

According to Zacks, analysts expect that LendingClub will report full-year sales of $780.25 million for the current financial year, with estimates ranging from $775.68 million to $786.30 million. For the next fiscal year, analysts forecast that the company will report sales of $881.77 million, with estimates ranging from $863.72 million to $894.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow LendingClub.

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

Several analysts recently commented on the stock. ValuEngine upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BTIG Research reduced their price target on shares of LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley reduced their price target on shares of LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Maxim Group set a $23.00 price target on shares of LendingClub and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Saturday, October 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $21.00.

In related news, CFO Valerie Kay sold 10,000 shares of the stock in a transaction dated 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 the stock in a transaction dated Monday, August 12th. The shares were 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 a total of 28,563 shares of company stock valued at $510,603 in the last quarter. Insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of LC. Aperio Group LLC acquired a new stake in shares of LendingClub during the 2nd quarter worth about $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of LendingClub during the 2nd quarter worth about $54,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 2nd quarter worth about $66,000. Prudential Financial Inc. boosted its stake in shares of LendingClub by 9.0% during 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 last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in shares of LendingClub during the 2nd quarter worth about $150,000.

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

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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