FY2017 EPS Estimates for LendingClub Corporation Lifted by Analyst (LC)

LendingClub Corporation (NYSE:LC) – Equities research analysts at Oppenheimer Holdings upped their FY2017 EPS estimates for shares of LendingClub Corporation in a note issued to investors on Tuesday. Oppenheimer Holdings analyst J. Kelly now forecasts that the credit services provider will earn ($0.14) per share for the year, up from their previous estimate of ($0.15). Oppenheimer Holdings has a “Outperform” rating and a $7.00 price objective on the stock. Oppenheimer Holdings also issued estimates for LendingClub Corporation’s Q4 2017 earnings at $0.01 EPS and FY2018 earnings at $0.03 EPS.

LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The firm had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 35.0% on a year-over-year basis.

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A number of other equities analysts have also recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $9.00 price target on shares of LendingClub Corporation in a research note on Monday, May 8th. Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Susquehanna Bancshares Inc raised shares of LendingClub Corporation from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $6.00 to $9.00 in a research note on Monday, May 1st. Vetr raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday, May 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $7.00 price target (down previously from $8.00) on shares of LendingClub Corporation in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.72.

Shares of LendingClub Corporation (NYSE LC) opened at 5.80 on Friday. LendingClub Corporation has a 12 month low of $4.64 and a 12 month high of $6.78. The firm has a 50-day moving average of $5.42 and a 200-day moving average of $5.63. The firm’s market cap is $2.39 billion.

In other news, CEO Scott Sanborn sold 45,970 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $5.89, for a total value of $270,763.30. Following the completion of the sale, the chief executive officer now owns 910,901 shares of the company’s stock, valued at approximately $5,365,206.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas W. Casey sold 5,254 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.65, for a total transaction of $29,685.10. Following the completion of the sale, the chief financial officer now directly owns 31,203 shares of the company’s stock, valued at approximately $176,296.95. The disclosure for this sale can be found here. Insiders sold a total of 329,149 shares of company stock valued at $1,883,699 in the last ninety days. 11.40% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of LendingClub Corporation by 0.4% in the first quarter. SG Americas Securities LLC now owns 43,485 shares of the credit services provider’s stock worth $239,000 after buying an additional 171 shares during the period. Amalgamated Bank boosted its stake in shares of LendingClub Corporation by 0.7% in the second quarter. Amalgamated Bank now owns 41,156 shares of the credit services provider’s stock valued at $227,000 after buying an additional 276 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in shares of LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of LendingClub Corporation by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock valued at $200,000 after buying an additional 1,500 shares during the last quarter. 90.92% of the stock is owned by institutional investors.

LendingClub Corporation Company Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History and Estimates for LendingClub Corporation (NYSE:LC)

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