Zacks: Brokerages Anticipate LendingClub Corp (NYSE:LC) Will Announce Quarterly Sales of $197.89 Million

Wall Street brokerages forecast that LendingClub Corp (NYSE:LC) will announce $197.89 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for LendingClub’s earnings, with the lowest sales estimate coming in at $196.00 million and the highest estimate coming in at $199.87 million. LendingClub posted sales of $181.52 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The business is scheduled to announce its next earnings report on Tuesday, February 18th.

According to Zacks, analysts expect that LendingClub will report full year sales of $768.41 million for the current fiscal year, with estimates ranging from $766.00 million to $769.99 million. For the next financial year, analysts anticipate that the company will post sales of $868.67 million, with estimates ranging from $841.34 million to $899.83 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, November 5th. The credit services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The company had revenue of $204.90 million during the quarter, compared to analyst estimates of $204.63 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis.

Several equities research analysts have issued reports on LC shares. Zacks Investment Research cut LendingClub from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Maxim Group reissued a “buy” rating and set a $23.00 target price on shares of LendingClub in a research note on Thursday, November 7th. BTIG Research decreased their price target on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. LendingClub currently has a consensus rating of “Buy” and a consensus target price of $20.40.

LendingClub stock traded down $0.34 during trading on Thursday, reaching $12.21. 308,448 shares of the company were exchanged, compared to its average volume of 469,079. LendingClub has a 52-week low of $10.89 and a 52-week high of $18.85. The company has a market capitalization of $1.11 billion, a P/E ratio of -23.48 and a beta of 1.60. The company has a debt-to-equity ratio of 1.97, a current ratio of 5.93 and a quick ratio of 4.20. The stock’s 50 day simple moving average is $12.56 and its two-hundred day simple moving average is $13.38.

In related news, insider Timothy Bogan sold 11,425 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $13.16, for a total value of $150,353.00. Following the sale, the insider now owns 48,116 shares in the company, valued at approximately $633,206.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Valerie Kay sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $14.54, for a total value of $27,626.00. Following the completion of the sale, the insider now directly owns 53,565 shares in the company, valued at approximately $778,835.10. The disclosure for this sale can be found here. Insiders sold a total of 17,125 shares of company stock worth $225,403 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of LendingClub during the third quarter valued at approximately $83,981,000. Nomura Holdings Inc. bought a new stake in shares of LendingClub during the third quarter worth $28,181,000. Nuveen Asset Management LLC bought a new position in LendingClub in the second quarter valued at $4,253,000. Rothschild & Co Wealth Management UK Ltd bought a new position in LendingClub in the second quarter valued at $1,624,000. Finally, BlackRock Inc. grew its position in LendingClub by 1.8% in the second quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock valued at $81,126,000 after purchasing an additional 425,690 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

LendingClub Company Profile

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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