LexinFintech (LX) Issues Quarterly Earnings Results, Beats Estimates By $3.79 EPS

LexinFintech (NASDAQ:LX) issued its quarterly earnings results on Thursday. The company reported $4.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $3.79, Briefing.com reports. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.11 billion. LexinFintech had a net margin of 15.33% and a return on equity of 47.96%. The business’s revenue for the quarter was up 31.4% on a year-over-year basis.

NASDAQ:LX opened at $10.39 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 47.23 and a beta of 2.21. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.13. LexinFintech has a twelve month low of $6.48 and a twelve month high of $18.60.

Several brokerages have weighed in on LX. Zacks Investment Research raised LexinFintech from a “strong sell” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Saturday, February 2nd. Goldman Sachs Group raised LexinFintech from a “neutral” rating to a “buy” rating in a report on Wednesday, November 21st. ValuEngine cut LexinFintech from a “hold” rating to a “sell” rating in a research note on Monday, December 17th. Finally, Morgan Stanley started coverage on LexinFintech in a research note on Tuesday, December 11th. They issued a “weight” rating for the company. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $14.50.

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new stake in LexinFintech in the third quarter worth approximately $149,000. Barclays PLC increased its holdings in LexinFintech by 106.7% in the fourth quarter. Barclays PLC now owns 18,200 shares of the company’s stock worth $132,000 after purchasing an additional 9,393 shares in the last quarter. Bank of Montreal Can bought a new stake in LexinFintech in the third quarter worth approximately $187,000. Symmetry Peak Management LLC bought a new stake in LexinFintech in the third quarter worth approximately $199,000. Finally, Granite Point Capital Management L.P. increased its holdings in LexinFintech by 151.8% in the third quarter. Granite Point Capital Management L.P. now owns 33,239 shares of the company’s stock worth $330,000 after purchasing an additional 20,039 shares in the last quarter. 8.78% of the stock is currently owned by institutional investors and hedge funds.

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About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.

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Earnings History for LexinFintech (NASDAQ:LX)

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