LendingClub (NYSE:LC) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.03-0.01) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.01). The company issued revenue guidance of $185-195 million, compared to the consensus revenue estimate of $196.73 million.LendingClub also updated its FY 2019 guidance to EPS.
A number of research firms have recently commented on LC. Zacks Investment Research downgraded LendingClub from a buy rating to a hold rating in a research report on Tuesday, May 14th. Wedbush upgraded LendingClub from a neutral rating to an outperform rating and increased their target price for the company from $3.75 to $5.00 in a research report on Wednesday, May 8th. Finally, Maxim Group reiterated a buy rating and set a $4.50 target price on shares of LendingClub in a research report on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $4.88.
NYSE:LC opened at $3.00 on Friday. LendingClub has a fifty-two week low of $2.46 and a fifty-two week high of $4.55. The firm has a market cap of $1.31 billion, a P/E ratio of -42.86 and a beta of 1.67. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.93 and a current ratio of 4.88.
In other news, Director Mary G. Meeker sold 276,500 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $3.41, for a total transaction of $942,865.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Valerie Kay sold 9,500 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $3.10, for a total value of $29,450.00. Following the transaction, the insider now owns 241,851 shares in the company, valued at approximately $749,738.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,045,833 shares of company stock worth $3,517,237. Insiders own 4.20% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “LendingClub (LC) Releases Q2 Earnings Guidance” was reported by Rockland Register and is owned by of Rockland Register. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://rocklandregister.com/2019/06/01/lendingclub-lc-releases-q2-earnings-guidance.html.
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.
Recommended Story: The mechanics of the bid-ask spread in trading
Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.