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

Equities analysts expect LendingClub Corp (NYSE:LC) to announce ($0.02) earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for LendingClub’s earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.02). LendingClub reported earnings per share of $0.03 in the same quarter last year, which would indicate a negative year-over-year growth rate of 166.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that LendingClub will report full-year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.05) to ($0.03). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.08 per share, with EPS estimates ranging from $0.01 to $0.14. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. The firm had revenue of $174.40 million during the quarter, compared to the consensus estimate of $170.45 million. During the same period last year, the firm posted $0.01 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of LendingClub from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Saturday, May 11th. Wedbush set a $4.00 target price on shares of LendingClub and gave the stock a “hold” rating in a research note on Wednesday, February 20th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $4.50 target price on shares of LendingClub in a research note on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.85.

In other news, Director Mary G. Meeker sold 350,500 shares of LendingClub stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $3.31, for a total transaction of $1,160,155.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Valerie Kay sold 9,500 shares of LendingClub stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $2.99, for a total transaction of $28,405.00. Following the sale, the insider now owns 227,677 shares of the company’s stock, valued at approximately $680,754.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,045,833 shares of company stock valued at $3,517,237. Insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of LC. ARK Investment Management LLC grew its position in shares of LendingClub by 22.4% during the 1st quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after buying an additional 3,926,187 shares during the period. Hsbc Holdings PLC grew its position in shares of LendingClub by 81.1% during the 4th quarter. Hsbc Holdings PLC now owns 7,508,202 shares of the credit services provider’s stock worth $19,747,000 after buying an additional 3,363,305 shares during the period. Norges Bank acquired a new stake in shares of LendingClub during the 4th quarter worth approximately $7,608,000. Goldman Sachs Group Inc. grew its position in shares of LendingClub by 120.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,495,288 shares of the credit services provider’s stock worth $4,620,000 after buying an additional 818,289 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of LendingClub by 15.7% during the 1st quarter. Geode Capital Management LLC now owns 4,682,221 shares of the credit services provider’s stock worth $14,468,000 after buying an additional 634,147 shares during the period. Institutional investors own 87.87% of the company’s stock.

LC stock traded down $0.10 during trading on Friday, hitting $2.84. 2,354,599 shares of the stock traded hands, compared to its average volume of 2,221,351. LendingClub has a one year low of $2.46 and a one year high of $4.55. The company has a market capitalization of $1.27 billion, a P/E ratio of -40.57 and a beta of 1.57. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27.

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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Earnings History and Estimates for LendingClub (NYSE:LC)

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