$193.02 Million in Sales Expected for LendingClub Corp (NYSE:LC) This Quarter

Analysts predict that LendingClub Corp (NYSE:LC) will report $193.02 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for LendingClub’s earnings, with the lowest sales estimate coming in at $188.57 million and the highest estimate coming in at $201.50 million. LendingClub reported sales of $176.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that LendingClub will report full year sales of $781.28 million for the current fiscal year, with estimates ranging from $769.10 million to $796.00 million. For the next financial year, analysts forecast that the firm will post sales of $880.35 million, with estimates ranging from $854.79 million to $926.60 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings data 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 the consensus estimate of $170.45 million. LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share.

LC has been the subject of a number of analyst reports. Wedbush set a $4.00 price objective on shares of LendingClub and gave the stock a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Saturday, May 11th. Finally, Maxim Group reiterated a “buy” rating and issued a $4.50 price objective on shares of LendingClub in a research report on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. LendingClub currently has a consensus rating of “Hold” and an average price target of $4.85.

In related news, Director Mary G. Meeker sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $3.57, for a total transaction of $357,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Valerie Kay sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $3.24, for a total value of $30,780.00. Following the transaction, the insider now directly owns 218,177 shares in the company, valued at $706,893.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,045,833 shares of company stock valued at $3,517,237. 4.20% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its position in shares of LendingClub by 1.5% during the first quarter. California Public Employees Retirement System now owns 240,089 shares of the credit services provider’s stock worth $742,000 after acquiring an additional 3,621 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of LendingClub by 6.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,307 shares of the credit services provider’s stock worth $235,000 after acquiring an additional 5,771 shares during the last quarter. Karp Capital Management Corp raised its position in shares of LendingClub by 5.2% during the fourth quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock worth $317,000 after acquiring an additional 6,000 shares during the last quarter. Legal & General Group Plc raised its position in shares of LendingClub by 5.7% during the fourth quarter. Legal & General Group Plc now owns 142,560 shares of the credit services provider’s stock worth $375,000 after acquiring an additional 7,653 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of LendingClub during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Shares of LendingClub stock traded down $0.03 during trading hours on Friday, reaching $2.93. The stock had a trading volume of 2,955,600 shares, compared to its average volume of 2,227,429. The company has a market cap of $1.26 billion, a P/E ratio of -41.86 and a beta of 1.56. LendingClub has a twelve month low of $2.46 and a twelve month high of $4.55. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.93 and a current ratio of 4.88.

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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