LexinFintech (LX) Announces Earnings Results, Beats Estimates By $1.69 EPS

LexinFintech (NASDAQ:LX) announced its quarterly earnings results on Wednesday. The company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $1.69, Briefing.com reports. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.65 billion. The company’s quarterly revenue was up 16.6% on a year-over-year basis.

NASDAQ LX opened at $10.05 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.67 billion and a price-to-earnings ratio of 45.68. LexinFintech has a 12-month low of $9.11 and a 12-month high of $20.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of LX. Krane Funds Advisors LLC bought a new stake in LexinFintech in the 2nd quarter valued at about $4,783,000. Raymond James & Associates bought a new stake in LexinFintech in the 2nd quarter valued at about $294,000. Bank of America Corp DE bought a new stake in LexinFintech in the 2nd quarter valued at about $1,250,000. Jane Street Group LLC bought a new stake in LexinFintech in the 2nd quarter valued at about $448,000. Finally, Bank of Montreal Can bought a new stake in LexinFintech in the 3rd quarter valued at about $187,000. 7.03% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have issued reports on LX. Zacks Investment Research downgraded shares of LexinFintech from a “hold” rating to a “strong sell” rating in a report on Thursday, August 30th. Bank of America cut their price objective on shares of LexinFintech from $21.00 to $18.00 and set a “buy” rating for the company in a report on Monday, August 27th.

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LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.

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