LendingClub Corp (NYSE:LC) – Investment analysts at KeyCorp boosted their Q3 2019 earnings estimates for shares of LendingClub in a research report issued to clients and investors on Sunday, August 11th. KeyCorp analyst J. Beck now expects that the credit services provider will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.05). KeyCorp also issued estimates for LendingClub’s Q4 2019 earnings at $0.01 EPS, FY2019 earnings at ($0.14) EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.21 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.71 EPS.
Several other equities analysts also recently issued reports on LC. Wedbush raised shares of LendingClub from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $18.75 to $25.00 in a report on Wednesday, May 8th. 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 report on Friday, July 12th. ValuEngine downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Maxim Group set a $23.00 price objective on shares of LendingClub and gave the stock a “buy” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.63.
Shares of LC opened at $13.30 on Wednesday. LendingClub has a 1 year low of $12.30 and a 1 year high of $20.15. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -38.00 and a beta of 1.58. 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 firm has a fifty day moving average of $12.32 and a 200-day moving average of $5.49.
LendingClub (NYSE:LC) last announced its quarterly 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 company had revenue of $190.80 million during the quarter, compared to the consensus estimate of $192.04 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. lifted its holdings in LendingClub by 35.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 25,692,140 shares of the credit services provider’s stock worth $84,270,000 after purchasing an additional 6,690,424 shares during the period. BlackRock Inc. raised its position in LendingClub by 1.8% in the second quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock worth $81,126,000 after acquiring an additional 425,690 shares in the last quarter. ARK Investment Management LLC raised its position in LendingClub by 22.4% in the first quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after acquiring an additional 3,926,187 shares in the last quarter. Dimensional Fund Advisors LP raised its position in LendingClub by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,088,195 shares of the credit services provider’s stock worth $34,423,000 after acquiring an additional 177,193 shares in the last quarter. Finally, Norges Bank bought a new stake in LendingClub in the fourth quarter worth about $7,608,000.
In related news, Director Susan C. Athey sold 6,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $15.04, for a total value of $90,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary G. Meeker sold 40,333 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.25, for a total transaction of $131,082.25. The disclosure for this sale can be found here. Insiders sold 65,333 shares of company stock valued at $279,082 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.
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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