Zacks: Brokerages Expect Lendingtree Inc (TREE) Will Post Quarterly Sales of $267.44 Million

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Brokerages predict that Lendingtree Inc (NASDAQ:TREE) will announce $267.44 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lendingtree’s earnings, with the lowest sales estimate coming in at $265.00 million and the highest estimate coming in at $270.16 million. Lendingtree reported sales of $184.10 million during the same quarter last year, which indicates a positive year over year growth rate of 45.3%. The firm is expected to report its next earnings report on Thursday, July 25th.

On average, analysts expect that Lendingtree will report full-year sales of $1.08 billion for the current fiscal year, with estimates ranging from $1.08 billion to $1.09 billion. For the next year, analysts expect that the business will report sales of $1.28 billion, with estimates ranging from $1.22 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Lendingtree.

Lendingtree (NASDAQ:TREE) last issued its earnings results on Friday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.56. Lendingtree had a return on equity of 13.71% and a net margin of 7.62%. The firm had revenue of $262.40 million for the quarter, compared to analyst estimates of $239.73 million. During the same period in the previous year, the company posted $1.10 earnings per share. The business’s revenue was up 45.0% on a year-over-year basis.

A number of analysts recently issued reports on TREE shares. BidaskClub upgraded Lendingtree from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. Zacks Investment Research upgraded Lendingtree from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Oppenheimer boosted their price objective on Lendingtree from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, February 22nd. Northland Securities lowered Lendingtree from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 26th. Finally, SunTrust Banks reiterated a “hold” rating and set a $260.00 price objective on shares of Lendingtree in a research note on Tuesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $340.40.

Shares of NASDAQ:TREE traded down $2.68 during midday trading on Thursday, reaching $383.76. 127,753 shares of the company traded hands, compared to its average volume of 191,056. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. Lendingtree has a 12 month low of $183.25 and a 12 month high of $400.95. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 3.56 and a beta of 2.38.

In other Lendingtree news, President Neil Salvage sold 1,305 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $326.11, for a total value of $425,573.55. Following the transaction, the president now directly owns 7,130 shares in the company, valued at approximately $2,325,164.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Ozonian sold 975 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $314.98, for a total value of $307,105.50. Following the completion of the transaction, the director now owns 6,394 shares in the company, valued at $2,013,982.12. The disclosure for this sale can be found here. Insiders sold a total of 29,567 shares of company stock worth $10,194,327 over the last 90 days. Corporate insiders own 17.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kore Private Wealth LLC bought a new position in Lendingtree in the 1st quarter worth about $28,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Lendingtree by 314.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 145 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 110 shares during the last quarter. US Bancorp DE increased its stake in Lendingtree by 2,212.5% in the 1st quarter. US Bancorp DE now owns 185 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 177 shares during the last quarter. Whittier Trust Co. increased its stake in Lendingtree by 488.2% in the 4th quarter. Whittier Trust Co. now owns 200 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 166 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in Lendingtree in the 4th quarter worth about $71,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

Lendingtree Company Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.

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