Research Analysts Set Expectations for LendingClub Corporation’s FY2017 Earnings (LC)

LendingClub Corporation (NYSE:LC) – Analysts at Wedbush dropped their FY2017 earnings per share (EPS) estimates for shares of LendingClub Corporation in a research note issued to investors on Wednesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings per share of ($0.14) for the year, down from their prior forecast of ($0.13). Wedbush has a “Hold” rating and a $6.00 price target on the stock. Wedbush also issued estimates for LendingClub Corporation’s Q1 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.02 EPS and FY2018 earnings at $0.02 EPS.

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A number of other research analysts have also issued reports on LC. Zacks Investment Research lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. BidaskClub lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. UBS AG raised LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating and set a $7.00 price target on the stock in a research note on Thursday, August 3rd. Finally, CIBC upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.89.

LendingClub Corporation (NYSE:LC) opened at $4.17 on Monday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02. LendingClub Corporation has a twelve month low of $4.14 and a twelve month high of $6.78.

In other news, insider Timothy Bogan sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 47,273 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $4.23, for a total value of $199,964.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,722 shares of company stock worth $1,218,831. 11.40% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of LendingClub Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock valued at $156,505,000 after acquiring an additional 1,300,878 shares in the last quarter. BlackRock Inc. lifted its position in shares of LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after acquiring an additional 21,445,128 shares in the last quarter. Fred Alger Management Inc. lifted its position in shares of LendingClub Corporation by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock valued at $67,981,000 after acquiring an additional 681,192 shares in the last quarter. Jackson Square Partners LLC lifted its position in shares of LendingClub Corporation by 2.8% in the third quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock valued at $60,191,000 after acquiring an additional 273,650 shares in the last quarter. Finally, State Street Corp lifted its position in shares of LendingClub Corporation by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock valued at $35,602,000 after acquiring an additional 323,373 shares in the last quarter. Institutional investors and hedge funds own 88.28% of the company’s stock.

LendingClub Corporation Company Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History and Estimates for LendingClub Corporation (NYSE:LC)

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