LexinFintech (NASDAQ:LX) Issues Quarterly Earnings Results, Misses Estimates By $2.92 EPS

LexinFintech (NASDAQ:LX) announced its earnings results on Friday. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $3.42 by ($2.92), Morningstar.com reports. LexinFintech had a net margin of 27.22% and a return on equity of 59.67%. The firm had revenue of $969.60 million during the quarter. During the same period last year, the firm earned $1.39 earnings per share. The company’s revenue was up 53.8% compared to the same quarter last year.

NASDAQ LX traded up $0.42 on Friday, reaching $10.25. The company had a trading volume of 1,588,003 shares, compared to its average volume of 571,289. The firm has a 50-day moving average of $10.65 and a 200-day moving average of $11.62. LexinFintech has a 1 year low of $6.48 and a 1 year high of $14.66. The firm has a market capitalization of $1.70 billion, a PE ratio of 6.41 and a beta of 1.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.45 and a quick ratio of 1.44.

Several institutional investors and hedge funds have recently made changes to their positions in LX. TT International acquired a new position in shares of LexinFintech in the 1st quarter valued at approximately $67,505,000. Bamco Inc. NY acquired a new position in shares of LexinFintech in the 2nd quarter valued at approximately $22,876,000. Renaissance Technologies LLC raised its position in shares of LexinFintech by 278.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,558,528 shares of the company’s stock valued at $17,393,000 after acquiring an additional 1,146,514 shares in the last quarter. GAM Holding AG acquired a new stake in shares of LexinFintech during the 2nd quarter valued at approximately $11,641,000. Finally, Bank of America Corp DE raised its position in shares of LexinFintech by 842.2% during the 2nd quarter. Bank of America Corp DE now owns 1,106,935 shares of the company’s stock valued at $12,354,000 after acquiring an additional 989,450 shares in the last quarter. 17.28% of the stock is currently owned by institutional investors.

Several analysts have commented on the company. China Renaissance Securities restated a “buy” rating and issued a $18.00 price target on shares of LexinFintech in a report on Tuesday, May 14th. ValuEngine cut LexinFintech from a “hold” rating to a “sell” rating in a report on Monday, August 12th. BNP Paribas upgraded LexinFintech from a “hold” rating to a “buy” rating and set a $12.60 price target for the company in a report on Friday, May 10th. Finally, Zacks Investment Research upgraded LexinFintech from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. LexinFintech presently has an average rating of “Buy” and an average target price of $14.20.

About LexinFintech

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.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

Further Reading: Producer Price Index (PPI)

Earnings History for LexinFintech (NASDAQ:LX)

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