LendingClub Corp reports results for the quarter ended in March - Earnings Summary

Happen

30/04/2024 22:52

* LendingClub Corp  LC.N  reported quarterly adjusted
earnings of
11 cents​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of 13
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 3 cents per share. Wall Street expected
results to range from 1 cents to 7 cents per share.
    * Revenue fell 26.5% to $180.69 million from a year ago;
analysts
expected $173.88 million. 
    * LendingClub Corp's reported EPS for the quarter was 11
cents​.
    * The company reported quarterly net income of $12.25
million.
    * LendingClub Corp shares had fallen by 11.1% this
quarter and
lost 10.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 25.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "buy"

Wall Street's median 12-month price target for LendingClub Corp
is $10.75 
This summary was machine generated from LSEG data April 30 at
09:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.03           0.11           Beat
 Dec. 31 2023      0.01           0.09           Beat
 Sep. 30 2023      0.04           0.05           Beat
 Jun. 30 2023      0.04           0.09           Beat