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

LendingClub Corporation (NYSE:LC) – Analysts at Wedbush dropped their FY2017 earnings estimates for shares of LendingClub Corporation in a report issued on Wednesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings per share of ($0.14) for the year, down from their previous forecast of ($0.13). Wedbush has a “Hold” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for LendingClub Corporation’s Q1 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.02 EPS and FY2018 earnings at $0.02 EPS.

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Other equities research analysts also recently issued research reports about the company. Vetr downgraded LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.55 price objective on the stock. in a report on Wednesday, August 16th. BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corporation in a report on Wednesday, September 27th. Needham & Company LLC initiated coverage on LendingClub Corporation in a report on Wednesday, November 1st. They issued a “buy” rating and a $7.00 price objective on the stock. Maxim Group initiated coverage on LendingClub Corporation in a report on Tuesday, November 7th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Canaccord Genuity cut their price objective on LendingClub Corporation from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.89.

Shares of LendingClub Corporation (LC) opened at $4.30 on Monday. LendingClub Corporation has a 1 year low of $4.20 and a 1 year high of $6.78. The company has a debt-to-equity ratio of 3.52, a current ratio of 18.02 and a quick ratio of 18.90.

In other news, COO Sameer Gulati sold 8,351 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $5.64, for a total transaction of $47,099.64. Following the completion of the transaction, the chief operating officer now directly owns 296,221 shares of the company’s stock, valued at approximately $1,670,686.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Timothy Bogan sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,449 shares of company stock valued at $1,018,866 over the last three months. 11.40% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in LC. Quantbot Technologies LP acquired a new stake in shares of LendingClub Corporation in the 3rd quarter valued at about $103,000. Prudential Financial Inc. boosted its position in shares of LendingClub Corporation by 3.6% in the 1st quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 760 shares during the period. Teacher Retirement System of Texas boosted its position in shares of LendingClub Corporation by 27.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 5,130 shares during the period. Blair William & Co. IL boosted its position in shares of LendingClub Corporation by 11.3% in the 2nd quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after purchasing an additional 2,650 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of LendingClub Corporation in the 2nd quarter valued at about $150,000. 87.80% of the stock is owned by institutional investors and hedge funds.

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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