LendingClub (LC) to Release Earnings on Wednesday

by · The Cerbat Gem

LendingClub (NYSE:LC – Get Free Report) will be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

LendingClub (NYSE:LC – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. On average, analysts expect LendingClub to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

LendingClub Trading Down 3.1 %

LC stock opened at $12.29 on Tuesday. The business’s fifty day moving average price is $11.51 and its 200 day moving average price is $9.91. LendingClub has a 12-month low of $4.73 and a 12-month high of $13.63. The company has a market capitalization of $1.37 billion, a PE ratio of 36.13 and a beta of 2.04.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 51,703 shares of company stock valued at $562,705. 3.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LC shares. JPMorgan Chase & Co. increased their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wedbush increased their price objective on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.57.

Read Our Latest Stock Report on LendingClub

LendingClub Company Profile

(Get Free Report)

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.

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