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 buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.
LexinFintech Stock Up 11.7%
Shares of LX traded up $0.74 during mid-day trading on Monday, reaching $7.06. The company's stock had a trading volume of 7,734,232 shares, compared to its average volume of 3,343,861. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.12. LexinFintech has a 1 year low of $1.57 and a 1 year high of $11.64. The business has a fifty day moving average of $7.42 and a 200 day moving average of $7.92. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 6.66 and a beta of 0.41.
LexinFintech (NASDAQ:LX - Get Free Report) last announced its quarterly earnings results 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%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded LexinFintech from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th.
Read Our Latest Stock Analysis on LX
LexinFintech Company Profile
(
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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