LexinFintech (NASDAQ:LX) Releases Quarterly Earnings Results, Misses Expectations By $2.92 EPS

LexinFintech (NASDAQ:LX) released its quarterly earnings data on Friday. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.42 by ($2.92), Morningstar.com reports. The firm had revenue of $969.60 million for the quarter. LexinFintech had a net margin of 27.22% and a return on equity of 59.67%. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS.

Shares of NASDAQ LX traded up $0.42 during trading on Friday, reaching $10.25. 1,588,003 shares of the stock traded hands, compared to its average volume of 571,289. LexinFintech has a 52-week low of $6.48 and a 52-week high of $14.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.45 and a quick ratio of 1.44. The company has a 50-day moving average of $10.65 and a 200-day moving average of $11.62. The stock has a market capitalization of $1.70 billion, a P/E ratio of 6.41 and a beta of 1.99.

Hedge funds and other institutional investors have recently modified their holdings of the company. TT International purchased a new stake in LexinFintech during the 1st quarter worth about $67,505,000. Bamco Inc. NY purchased a new stake in LexinFintech during the 2nd quarter worth about $22,876,000. Renaissance Technologies LLC lifted its holdings in LexinFintech by 278.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,558,528 shares of the company’s stock worth $17,393,000 after purchasing an additional 1,146,514 shares in the last quarter. GAM Holding AG purchased a new stake in LexinFintech during the 2nd quarter worth about $11,641,000. Finally, Bank of America Corp DE lifted its holdings in LexinFintech by 842.2% during the 2nd quarter. Bank of America Corp DE now owns 1,106,935 shares of the company’s stock worth $12,354,000 after purchasing an additional 989,450 shares in the last quarter. 17.28% of the stock is currently owned by hedge funds and other institutional investors.



LX has been the subject of several recent research reports. Zacks Investment Research upgraded LexinFintech from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, July 26th. BNP Paribas upgraded LexinFintech from a “hold” rating to a “buy” rating and set a $12.60 price objective for the company in a report on Friday, May 10th. ValuEngine downgraded LexinFintech from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, China Renaissance Securities reiterated a “buy” rating and set a $18.00 price target on shares of LexinFintech in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. LexinFintech presently has a consensus rating of “Buy” and a consensus target price of $14.20.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

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Earnings History for LexinFintech (NASDAQ:LX)

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