Zacks: Brokerages Anticipate LendingClub Corp (NYSE:LC) Will Post Quarterly Sales of $193.02 Million

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Analysts expect that LendingClub Corp (NYSE:LC) will report sales of $193.02 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for LendingClub’s earnings. The highest sales estimate is $201.50 million and the lowest is $188.57 million. LendingClub posted sales of $176.98 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is scheduled to announce its next earnings results on Tuesday, August 6th.

On average, analysts expect that LendingClub will report full year sales of $777.18 million for the current year, with estimates ranging from $769.10 million to $780.00 million. For the next year, analysts expect that the firm will post sales of $874.10 million, with estimates ranging from $854.79 million to $901.60 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The business had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS.

Several brokerages have recently issued reports on LC. Zacks Investment Research cut LendingClub from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Wedbush raised LendingClub from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $3.75 to $5.00 in a report on Wednesday, May 8th. Finally, Maxim Group reissued a “buy” rating and issued a $4.50 price objective on shares of LendingClub in a report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $4.85.

Shares of LC stock traded down $0.10 on Friday, hitting $2.84. The company had a trading volume of 2,354,599 shares, compared to its average volume of 2,221,351. The stock has a market cap of $1.27 billion, a PE ratio of -40.57 and a beta of 1.57. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27. LendingClub has a twelve month low of $2.46 and a twelve month high of $4.55.

In related news, insider Valerie Kay sold 9,500 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $3.24, for a total value of $30,780.00. Following the completion of the transaction, the insider now owns 218,177 shares of the company’s stock, valued at approximately $706,893.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary G. Meeker sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $3.57, for a total value of $357,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,045,833 shares of company stock valued at $3,517,237. Insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC raised its holdings in LendingClub by 22.4% in the 1st quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after purchasing an additional 3,926,187 shares during the period. Dimensional Fund Advisors LP raised its holdings in LendingClub by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,576,001 shares of the credit services provider’s stock worth $41,949,000 after purchasing an additional 487,806 shares during the period. Hsbc Holdings PLC raised its holdings in LendingClub by 81.1% in the 4th quarter. Hsbc Holdings PLC now owns 7,508,202 shares of the credit services provider’s stock worth $19,747,000 after purchasing an additional 3,363,305 shares during the period. Geode Capital Management LLC raised its holdings in LendingClub by 15.7% in the 1st quarter. Geode Capital Management LLC now owns 4,682,221 shares of the credit services provider’s stock worth $14,468,000 after purchasing an additional 634,147 shares during the period. Finally, Northern Trust Corp raised its holdings in LendingClub by 2.6% in the 1st quarter. Northern Trust Corp now owns 4,128,043 shares of the credit services provider’s stock worth $12,756,000 after purchasing an additional 103,772 shares during the period. 87.87% of the stock is owned by institutional investors.

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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