Wall Street brokerages expect that LendingTree, Inc. (NASDAQ:TREE) will announce sales of $291.11 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for LendingTree's earnings. The lowest sales estimate is $278.10 million and the highest is $296.00 million. LendingTree posted sales of $220.25 million during the same quarter last year, which suggests a positive year over year growth rate of 32.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 4th.
On average, analysts expect that LendingTree will report full year sales of $1.11 billion for the current financial year, with estimates ranging from $1.10 billion to $1.13 billion. For the next year, analysts forecast that the business will post sales of $1.28 billion, with estimates ranging from $1.19 billion to $1.40 billion. Zacks' sales calculations are a mean average based on a survey of research analysts that follow LendingTree.
LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Thursday, July 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $1.65. The firm had revenue of $270.01 million for the quarter, compared to analyst estimates of $271.01 million. LendingTree had a negative net margin of 0.74% and a negative return on equity of 3.64%.
TREE has been the topic of a number of recent research reports. Stephens cut their price target on shares of LendingTree from $365.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday. Oppenheimer cut their price target on shares of LendingTree from $325.00 to $275.00 and set an "outperform" rating on the stock in a research note on Friday, July 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $312.50.
In related news, insider Neil Salvage sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $185.47, for a total value of $370,940.00. Following the completion of the transaction, the insider now directly owns 3,475 shares of the company's stock, valued at $644,508.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin Henderson sold 735 shares of the company's stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $170.00, for a total value of $124,950.00. Following the completion of the transaction, the director now directly owns 469 shares of the company's stock, valued at $79,730. The disclosure for this sale can be found here. Insiders own 16.70% of the company's stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TREE. Concord Wealth Partners lifted its stake in LendingTree by 2,200.0% in the first quarter. Concord Wealth Partners now owns 184 shares of the financial services provider's stock valued at $39,000 after buying an additional 176 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in LendingTree in the first quarter valued at approximately $45,000. US Bancorp DE lifted its stake in LendingTree by 711.9% in the second quarter. US Bancorp DE now owns 341 shares of the financial services provider's stock valued at $72,000 after buying an additional 299 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in LendingTree by 15.6% in the second quarter. Asset Management One Co. Ltd. now owns 467 shares of the financial services provider's stock valued at $98,000 after buying an additional 63 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in LendingTree in the first quarter valued at approximately $104,000. Institutional investors own 94.29% of the company's stock.
Shares of TREE opened at $154.50 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of -223.91 and a beta of 1.48. LendingTree has a 12-month low of $150.29 and a 12-month high of $372.64. The company's 50-day moving average price is $172.00 and its 200 day moving average price is $197.53. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.11.
LendingTree Company Profile
LendingTree, Inc engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer and Insurance. The Home segment consists of purchase mortgage, refinance mortgage, home equity loans and lines of credit and reverse mortgage loans and real estate.
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