LexinFintech (NASDAQ:LX - Get Free Report) declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Separately, Wall Street Zen lowered LexinFintech from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th.
Get Our Latest Analysis on LexinFintech
LexinFintech Stock Down 9.3%
NASDAQ:LX traded down $0.65 during trading hours on Monday, reaching $6.32. 4,456,182 shares of the company traded hands, compared to its average volume of 3,454,899. The stock has a market capitalization of $1.06 billion, a P/E ratio of 5.97 and a beta of 0.41. The business's 50-day moving average price is $7.29 and its two-hundred day moving average price is $7.96. LexinFintech has a 1 year low of $1.57 and a 1 year high of $11.64. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.12.
LexinFintech (NASDAQ:LX - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.33 EPS for the quarter. LexinFintech had a return on equity of 12.52% and a net margin of 9.44%. The business had revenue of $427.76 million during the quarter.
LexinFintech Company Profile
(
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LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.
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