LendingClub (LC) Set to Announce Earnings on Tuesday

LendingClub (NYSE:LC) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. The firm had revenue of $180.69 million during the quarter, compared to analysts’ expectations of $174.52 million. During the same period in the prior year, the business earned $0.13 EPS. On average, analysts expect LendingClub to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

LendingClub Trading Up 0.5 %

LC opened at $10.85 on Monday. The stock has a 50-day moving average price of $8.97 and a 200-day moving average price of $8.63. LendingClub has a 12-month low of $4.73 and a 12-month high of $11.13. The stock has a market capitalization of $1.21 billion, a P/E ratio of 31.91 and a beta of 2.06.

Insiders Place Their Bets

In other LendingClub news, Director Erin Selleck sold 4,083 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the sale, the director now owns 54,571 shares in the company, valued at approximately $484,590.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LC shares. BTIG Research started coverage on LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 target price for the company. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of LendingClub in a report on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. Jefferies Financial Group increased their target price on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods increased their target price on LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.29.

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.