$266.94 Million in Sales Expected for LendingTree, Inc. (NASDAQ:TREE) This Quarter

Wall Street brokerages forecast that LendingTree, Inc. (NASDAQ:TREE) will report $266.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for LendingTree’s earnings, with the lowest sales estimate coming in at $262.10 million and the highest estimate coming in at $274.51 million. LendingTree posted sales of $222.33 million in the same quarter last year, which suggests a positive year over year growth rate of 20.1%. The company is expected to issue its next quarterly earnings results on Thursday, February 24th.

According to Zacks, analysts expect that LendingTree will report full-year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.10 billion to $1.11 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.22 billion, with estimates ranging from $1.13 billion to $1.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover LendingTree.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings data on Thursday, October 28th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $1.31. The company had revenue of $297.40 million for the quarter, compared to analyst estimates of $292.57 million. LendingTree had a negative return on equity of 0.62% and a net margin of 1.22%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.33) EPS.

TREE has been the subject of several research analyst reports. Truist Securities cut their price objective on LendingTree from $320.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, October 29th. Stephens decreased their target price on shares of LendingTree from $365.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, September 23rd. Oppenheimer decreased their target price on shares of LendingTree from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, October 29th. Finally, Truist decreased their target price on shares of LendingTree from $320.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, October 29th. They noted that the move was a valuation call. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $286.88.

LendingTree stock opened at $120.88 on Monday. The stock’s 50 day moving average price is $144.72 and its 200 day moving average price is $174.30. LendingTree has a 1-year low of $118.05 and a 1-year high of $372.64. The company has a market cap of $1.61 billion, a PE ratio of 140.56 and a beta of 1.51. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.32 and a quick ratio of 1.32.

In other news, insider Neil Salvage sold 4,153 shares of LendingTree stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $148.00, for a total transaction of $614,644.00. The transaction 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 LendingTree stock in a transaction on Friday, August 27th. The stock was sold at an average price of $170.00, for a total value of $124,950.00. Following the transaction, the director now directly owns 469 shares of the company’s stock, valued at approximately $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 have recently made changes to their positions in the stock. Asset Management One Co. Ltd. raised its stake in LendingTree by 15.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 467 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 63 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in LendingTree by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,055 shares of the financial services provider’s stock valued at $651,000 after buying an additional 70 shares during the period. Mutual of America Capital Management LLC grew its holdings in LendingTree by 0.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 9,844 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 81 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in LendingTree by 2.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 3,740 shares of the financial services provider’s stock valued at $792,000 after buying an additional 92 shares during the period. Finally, Texas Permanent School Fund grew its holdings in LendingTree by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 8,233 shares of the financial services provider’s stock valued at $1,744,000 after buying an additional 92 shares during the period. 93.70% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for LendingTree (NASDAQ:TREE)

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