$0.02 Earnings Per Share Expected for LendingClub Corp (LC) This Quarter

Wall Street brokerages predict that LendingClub Corp (NYSE:LC) will announce earnings per share (EPS) of $0.02 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for LendingClub’s earnings, with estimates ranging from $0.02 to $0.03. LendingClub reported earnings per share of $0.03 during the same quarter last year, which would suggest a negative year over year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that LendingClub will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.11. For the next financial year, analysts forecast that the business will report earnings of $0.17 per share, with EPS estimates ranging from $0.12 to $0.24. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow LendingClub.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, August 7th. The credit services provider reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. The business had revenue of $176.98 million during the quarter, compared to the consensus estimate of $164.25 million. LendingClub had a negative return on equity of 3.78% and a negative net margin of 29.82%.



A number of equities research analysts have recently commented on the company. Zacks Investment Research raised LendingClub from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Citigroup lifted their price objective on LendingClub from $4.15 to $4.25 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Morgan Stanley downgraded LendingClub from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $6.00 to $6.50 in a research report on Thursday, July 19th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of LendingClub in a research report on Wednesday, August 8th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.39.

A number of hedge funds have recently bought and sold shares of LC. Paloma Partners Management Co purchased a new stake in LendingClub during the second quarter valued at about $151,000. Xact Kapitalforvaltning AB grew its position in LendingClub by 60.2% during the first quarter. Xact Kapitalforvaltning AB now owns 45,233 shares of the credit services provider’s stock valued at $158,000 after acquiring an additional 17,000 shares during the period. Alpine Woods Capital Investors LLC purchased a new stake in LendingClub during the second quarter valued at about $159,000. Alps Advisors Inc. grew its position in LendingClub by 170.8% during the second quarter. Alps Advisors Inc. now owns 84,431 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 53,256 shares during the period. Finally, California Public Employees Retirement System grew its position in LendingClub by 218.6% during the second quarter. California Public Employees Retirement System now owns 113,363 shares of the credit services provider’s stock valued at $430,000 after acquiring an additional 77,776 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:LC traded down $0.11 during midday trading on Friday, reaching $3.13. The company’s stock had a trading volume of 2,884,489 shares, compared to its average volume of 4,934,053. The company has a market cap of $1.47 billion, a P/E ratio of -18.41 and a beta of 1.32. The company has a quick ratio of 8.75, a current ratio of 10.23 and a debt-to-equity ratio of 3.12. LendingClub has a 1 year low of $2.57 and a 1 year high of $5.95.

About LendingClub

LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.

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