LexinFintech (NASDAQ:LX - Get Free Report) announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
LexinFintech Stock Performance
LexinFintech stock traded down $0.18 during trading hours on Thursday, reaching $7.24. 6,361,209 shares of the stock were exchanged, compared to its average volume of 3,425,219. The firm's 50 day moving average is $7.35 and its 200 day moving average is $7.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $1.22 billion, a P/E ratio of 6.83 and a beta of 0.41. LexinFintech has a 52-week low of $1.57 and a 52-week high of $11.64.
LexinFintech (NASDAQ:LX - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.33 EPS for the quarter. The firm had revenue of $427.76 million during the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%.
Analyst Ratings Changes
Separately, Wall Street Zen cut LexinFintech from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th.
Check Out Our Latest Analysis on LexinFintech
About LexinFintech
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider LexinFintech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LexinFintech wasn't on the list.
While LexinFintech currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
