Zacks: Analysts Expect LendingClub Corp (LC) Will Post Earnings of $0.02 Per Share

Wall Street brokerages forecast that LendingClub Corp (NYSE:LC) will announce earnings of $0.02 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for LendingClub’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.03. LendingClub reported earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year over year growth rate of 200%. The business is expected to issue its next earnings report on Tuesday, February 13th.

On average, analysts expect that LendingClub will report full-year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.03. For the next year, analysts expect that the company will post earnings of $0.13 per share, with EPS estimates ranging from $0.07 to $0.24. Zacks’ EPS averages are a mean average based on a survey of analysts that cover LendingClub.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Oppenheimer decreased their target price on shares of LendingClub from $7.50 to $6.25 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Compass Point upgraded shares of LendingClub from a “sell” rating to a “neutral” rating in a research report on Friday, December 8th. Canaccord Genuity decreased their target price on shares of LendingClub from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Finally, Maxim Group started coverage on shares of LendingClub in a research report on Tuesday, November 7th. They set a “buy” rating and a $8.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.54.

Shares of LendingClub (NYSE LC) traded down $0.03 during trading hours on Friday, hitting $3.99. 6,406,500 shares of the company’s stock were exchanged, compared to its average volume of 6,820,594. LendingClub has a 1 year low of $3.29 and a 1 year high of $6.78. The company has a current ratio of 18.02, a quick ratio of 16.90 and a debt-to-equity ratio of 3.52.

In related news, insider Timothy Bogan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Mack acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $4.28 per share, with a total value of $85,600.00. Following the purchase, the director now owns 1,513,673 shares in the company, valued at $6,478,520.44. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 25,957,175 shares of company stock worth $100,843,283 and have sold 88,765 shares worth $458,573. Company insiders own 9.72% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its stake in shares of LendingClub by 118.4% during the second quarter. Great West Life Assurance Co. Can now owns 40,409 shares of the credit services provider’s stock valued at $222,000 after acquiring an additional 21,909 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of LendingClub by 363.6% during the second quarter. Global X Management Co. LLC now owns 57,467 shares of the credit services provider’s stock valued at $317,000 after acquiring an additional 45,071 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of LendingClub during the second quarter valued at $3,670,000. Teacher Retirement System of Texas raised its stake in shares of LendingClub by 27.4% during the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after acquiring an additional 5,130 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of LendingClub by 4.6% during the second quarter. SG Americas Securities LLC now owns 45,466 shares of the credit services provider’s stock valued at $251,000 after acquiring an additional 1,981 shares during the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

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LendingClub 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.

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Earnings History and Estimates for LendingClub (NYSE:LC)

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