LexinFintech (NASDAQ:LX - Get Free Report) declared that its Board of Directors has initiated a share buyback plan on Monday, July 21st, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.
LexinFintech Price Performance
Shares of NASDAQ:LX traded down $0.03 during trading hours on Thursday, hitting $7.40. 2,525,787 shares of the company's stock traded hands, compared to its average volume of 3,393,785. LexinFintech has a 52 week low of $1.57 and a 52 week high of $11.64. 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 company's fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $7.91. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 7.01 and a beta of 0.41.
LexinFintech (NASDAQ:LX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter. LexinFintech had a net margin of 9.44% and a return on equity of 12.52%. The company had revenue of $427.76 million during the quarter.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered shares of LexinFintech from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th.
Check Out Our Latest Analysis on LX
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.
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