Zacks: Brokerages Anticipate LendingClub Corp (LC) Will Post Quarterly Sales of $181.84 Million

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Brokerages predict that LendingClub Corp (NYSE:LC) will post $181.84 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for LendingClub’s earnings. The lowest sales estimate is $177.00 million and the highest is $188.80 million. LendingClub posted sales of $156.46 million in the same quarter last year, which suggests a positive year over year growth rate of 16.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.

On average, analysts expect that LendingClub will report full-year sales of $693.85 million for the current year, with estimates ranging from $689.00 million to $702.10 million. For the next year, analysts anticipate that the company will report sales of $780.71 million, with estimates ranging from $762.03 million to $816.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow LendingClub.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, November 6th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. LendingClub had a negative return on equity of 4.02% and a negative net margin of 30.89%. The business had revenue of $184.65 million during the quarter, compared to analyst estimates of $182.63 million. During the same quarter in the prior year, the business posted ($0.03) EPS. LendingClub’s revenue for the quarter was up 19.9% compared to the same quarter last year.

Separately, Zacks Investment Research lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.20.

Shares of LC stock opened at $2.98 on Friday. LendingClub has a 52-week low of $2.57 and a 52-week high of $4.55. The company has a quick ratio of 10.30, a current ratio of 12.04 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -17.53 and a beta of 1.40.

Hedge funds have recently modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of LendingClub during the second quarter valued at about $693,000. Alps Advisors Inc. grew its position in shares of LendingClub by 170.8% during the second quarter. Alps Advisors Inc. now owns 84,431 shares of the credit services provider’s stock valued at $320,000 after purchasing an additional 53,256 shares in the last quarter. Sei Investments Co. grew its position in shares of LendingClub by 633.5% during the second quarter. Sei Investments Co. now owns 595,836 shares of the credit services provider’s stock valued at $2,258,000 after purchasing an additional 514,604 shares in the last quarter. Brighton Jones LLC grew its position in shares of LendingClub by 21.1% during the second quarter. Brighton Jones LLC now owns 481,867 shares of the credit services provider’s stock valued at $1,826,000 after purchasing an additional 84,100 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of LendingClub by 7.6% during the second quarter. Rhumbline Advisers now owns 314,646 shares of the credit services provider’s stock valued at $1,193,000 after purchasing an additional 22,345 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

About LendingClub

LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.

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