LendingClub (LC) to Release Earnings on Wednesday

LendingClub (NYSE:LC) is scheduled to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect LendingClub to post earnings of $0.07 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, analysts expect LendingClub to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

LendingClub Stock Performance

LC opened at $12.68 on Monday. LendingClub has a twelve month low of $4.73 and a twelve month high of $13.63. The business has a 50 day moving average price of $11.47 and a 200 day moving average price of $9.88. The firm has a market cap of $1.41 billion, a P/E ratio of 37.29 and a beta of 2.04.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 51,703 shares of company stock worth $562,705. Company insiders own 3.31% of the company’s stock.

Analysts Set New Price Targets

LC has been the topic of several recent analyst reports. Wedbush lifted their target price on shares of LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and raised their target price for the company from $11.50 to $15.00 in a report on Thursday, October 10th. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up previously from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.57.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.