Brokerages Anticipate LendingClub Corp (LC) Will Post Quarterly Sales of $193.02 Million

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

On average, analysts expect that LendingClub will report full year sales of $781.28 million for the current financial year, with estimates ranging from $769.10 million to $796.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $880.35 million, with estimates ranging from $854.79 million to $926.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for LendingClub.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ 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 revenue for the quarter was up 15.0% on a year-over-year basis.

Several equities analysts have weighed in on LC shares. Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Saturday, May 11th. Wedbush set a $4.00 target price on shares of LendingClub and gave the company a “hold” rating in a report on Wednesday, February 20th. Finally, Maxim Group restated a “buy” rating and set a $4.50 target price on shares of LendingClub in a report on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.88.

NYSE:LC remained flat at $$3.24 during mid-day trading on Friday. 1,126,367 shares of the company’s stock traded hands, compared to its average volume of 2,211,886. The company has a debt-to-equity ratio of 2.27, a current ratio of 4.88 and a quick ratio of 3.93. LendingClub has a 52-week low of $2.46 and a 52-week high of $4.55. The stock has a market cap of $1.40 billion, a P/E ratio of -46.29 and a beta of 1.67.

In other news, insider Bahman Koohestani sold 17,563 shares of LendingClub stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $2.98, for a total transaction of $52,337.74. Following the completion of the sale, the insider now directly owns 114,754 shares in the company, valued at $341,966.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary G. Meeker sold 250,000 shares of LendingClub stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $3.35, for a total transaction of $837,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 779,063 shares of company stock valued at $2,625,888. Insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LC. ARK Investment Management LLC grew its holdings in shares of LendingClub by 22.4% during the first 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 in the last quarter. Hsbc Holdings PLC grew its holdings in shares of LendingClub by 81.1% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in shares of LendingClub during the fourth quarter worth about $7,608,000. Vanguard Group Inc. grew its holdings in shares of LendingClub by 7.1% during the third quarter. Vanguard Group Inc. now owns 33,949,574 shares of the credit services provider’s stock worth $131,725,000 after buying an additional 2,264,051 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of LendingClub by 120.9% during the first 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 in the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.

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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