Wall Street analysts expect LendingTree, Inc. (NASDAQ:TREE) to report $266.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates of LendingTree’s earnings, with estimates ranging from $262.10 million to $274.51 million. LendingTree posted sales of $222.33 million in the same quarter last year, which would indicate a positive growth rate of 20.1% year over year. The company is expected to announce its next earnings report on Thursday, February 24.
On average, analysts expect LendingTree to report annual sales of $1.11 billion for the current year, with estimates ranging from $1.10 billion to $1.11 billion. For the next fiscal year, analysts expect the company to post sales of $1.22 billion, with estimates ranging from $1.13 billion to $1.32 billion. Zacks Investment Research sales calculations are an average average based on a survey of research firms that provide coverage for LendingTree.
LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, October 28. The financial services provider reported EPS of $0.75 for the quarter, beating the Zacks consensus estimate of $0.56 ($0.56) by $1.31. LendingTree had a negative return on equity of 0.62% and a net margin of 1.22%. The company posted revenue of $297.40 million for the quarter, versus $292.57 million expected by analysts. During the same quarter of the previous year, the firm had posted ($1.33) earnings per share. The company’s quarterly revenue increased 35.0% year over year.
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TREE has been the subject of several research reports. Zacks Investment Research downgraded LendingTree shares from a “hold” rating to a “sell” rating and set a price target of $123.00 for the stock. in a research note from Wednesday, December 1. Truist Financial lowered its price target on LendingTree shares from $320.00 to $275.00 and set a “buy” rating for the company in a Friday, October 29 report. Finally, Oppenheimer lowered his price target on LendingTree shares from $275.00 to $240.00 and set an “outperform” rating for the company in a Friday, Oct. 29 report. One analyst rated the stock with a sell rating and six rated the company’s stock with a buy rating. According to MarketBeat, the stock has an average buy rating and an average target price of $254.00.
In other LendingTree news, an insider Neil Salvage sold 4,153 shares of the company in a transaction dated Tuesday, November 2. The shares were sold at an average price of $148.00, for a total transaction of $614,644.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. 16.70% of the shares are held by insiders.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its stake in LendingTree shares by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 595 shares of the financial services provider valued at $83,000 after purchasing an additional 128 shares during the period. Nisa Investment Advisors LLC increased its stake in LendingTree shares by 545.5% in the third quarter. Nisa Investment Advisors LLC now owns 710 shares of the financial services provider valued at $99,000 after buying an additional 600 shares during the period. Amundi purchased a new equity stake in LendingTree in the second quarter worth approximately $176,000. Profund Advisors LLC purchased a new equity stake in LendingTree in the second quarter worth approximately $214,000. Finally, Algert Global LLC purchased a new equity stake in LendingTree in the second quarter valued at approximately $244,000. Institutional investors and hedge funds hold 86.39% of the company’s shares.
Shares of NASDAQ TREE opened at $128.24 on Friday. LendingTree has a 1 year minimum of $105.00 and a 1 year maximum of $372.64. The company has a debt ratio of 1.09, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $1.71 billion, a price-earnings ratio of 149.12 and a beta of 1.52. The stock’s 50-day simple moving average is $124.02 and its 200-day simple moving average is $150.28.
LendingTree Company Profile
LendingTree, Inc engages in the operation of an online lending marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Housing, Consumer Goods and Insurance. The Home segment includes purchase of mortgages, mortgage refinancing, home equity loans and lines of credit and reverse mortgages and real estate.
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