LendingClub Corp (NYSE:LC) Expected to Earn Q1 2020 Earnings of ($0.03) Per Share

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LendingClub Corp (NYSE:LC) – Wedbush issued their Q1 2020 earnings per share estimates for shares of LendingClub in a research note issued to investors on Wednesday, November 6th. Wedbush analyst H. Coffey expects that the credit services provider will earn ($0.03) per share for the quarter. Wedbush also issued estimates for LendingClub’s Q3 2020 earnings at $0.18 EPS and Q4 2020 earnings at $0.21 EPS.

A number of other brokerages have also recently weighed in on LC. Zacks Investment Research raised shares of LendingClub from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Saturday. ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Maxim Group reaffirmed a “buy” rating and set a $23.00 price target on shares of LendingClub in a research report on Thursday. Finally, BTIG Research decreased their price target on shares of LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $20.80.

Shares of LendingClub stock opened at $14.76 on Friday. The company has a fifty day moving average price of $12.90 and a 200 day moving average price of $9.68. The company has a current ratio of 7.06, a quick ratio of 5.81 and a debt-to-equity ratio of 2.11. LendingClub has a twelve month low of $10.89 and a twelve month high of $18.85. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -42.17 and a beta of 1.60.

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

In other news, President Steven Allocca acquired 14,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $13.92 per share, with a total value of $194,880.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Timothy Bogan sold 10,463 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $14.34, for a total transaction of $150,039.42. Following the completion of the transaction, the insider now directly owns 59,541 shares of the company’s stock, valued at $853,817.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,563 shares of company stock valued at $510,603. 4.20% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in shares of LendingClub by 166.5% in the 2nd quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock valued at $686,000 after purchasing an additional 130,681 shares in the last quarter. Bank of America Corp DE raised its stake in shares of LendingClub by 165.1% in the 2nd quarter. Bank of America Corp DE now owns 461,358 shares of the credit services provider’s stock valued at $1,514,000 after purchasing an additional 287,353 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of LendingClub in the 3rd quarter valued at about $2,056,000. UBS Asset Management Americas Inc. raised its stake in shares of LendingClub by 9.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 223,465 shares of the credit services provider’s stock valued at $733,000 after purchasing an additional 19,328 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in shares of LendingClub in the 2nd quarter valued at about $150,000.

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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Earnings History and Estimates for LendingClub (NYSE:LC)

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