Brokerages Anticipate LendingClub Corp (LC) to Post -$0.02 Earnings Per Share

Equities research analysts expect LendingClub Corp (NYSE:LC) to announce ($0.02) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for LendingClub’s earnings, with estimates ranging from ($0.02) to ($0.01). LendingClub posted earnings per share of $0.03 in the same quarter last year, which suggests a negative year-over-year growth rate of 166.7%. The company is expected to report its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that LendingClub will report full year earnings of ($0.04) per share for the current financial year, with EPS estimates ranging from ($0.05) to ($0.03). For the next financial year, analysts forecast that the business will report earnings of $0.07 per share, with EPS estimates ranging from $0.01 to $0.14. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow LendingClub.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS.

LC has been the topic of a number of analyst reports. Zacks Investment Research lowered LendingClub from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Wedbush raised LendingClub from a “neutral” rating to an “outperform” rating and increased their price target for the company from $3.75 to $5.00 in a research report on Wednesday, May 8th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $4.50 price target on shares of LendingClub in a research report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $4.85.

Shares of NYSE LC traded down $0.05 during mid-day trading on Friday, reaching $2.91. 2,026,644 shares of the company’s stock were exchanged, compared to its average volume of 2,194,410. The stock has a market cap of $1.27 billion, a PE ratio of -41.57 and a beta of 1.57. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27. LendingClub has a 52-week low of $2.46 and a 52-week high of $4.55.

In other news, insider Valerie Kay sold 9,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $2.99, for a total transaction of $28,405.00. Following the sale, the insider now owns 227,677 shares of the company’s stock, valued at approximately $680,754.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary G. Meeker sold 40,333 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.25, for a total value of $131,082.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,045,833 shares of company stock worth $3,517,237 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System grew its stake in LendingClub by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 240,089 shares of the credit services provider’s stock worth $742,000 after buying an additional 3,621 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in LendingClub by 6.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock worth $235,000 after buying an additional 5,771 shares during the last quarter. Karp Capital Management Corp grew its stake in LendingClub by 5.2% during the 4th quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock worth $317,000 after buying an additional 6,000 shares during the last quarter. Legal & General Group Plc grew its stake in LendingClub by 5.7% during the 4th quarter. Legal & General Group Plc now owns 142,560 shares of the credit services provider’s stock worth $375,000 after buying an additional 7,653 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC purchased a new position in LendingClub during the 4th quarter worth approximately $26,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

About LendingClub

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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Earnings History and Estimates for LendingClub (NYSE:LC)

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