LendingClub (LC) Set to Announce Earnings on Tuesday

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

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

LendingClub Stock Up 0.5 %

NYSE:LC opened at $10.85 on Monday. The stock’s 50-day simple moving average is $8.97 and its 200 day simple moving average is $8.63. The firm has a market capitalization of $1.21 billion, a PE ratio of 31.91 and a beta of 2.06. LendingClub has a twelve month low of $4.73 and a twelve month high of $11.13.

Insider Activity

In other news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $8.88, for a total transaction of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares in the company, valued at $484,590.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

LC has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a research note on Wednesday, May 1st. BTIG Research initiated coverage on LendingClub in a research note on Friday, June 7th. They issued a “buy” rating and a $12.00 price objective on the stock. Jefferies Financial Group raised their price objective on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price target on LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and an average price target 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.