$0.17 per share earnings expected for Open Lending Co. (NASDAQ:LPRO) this quarter
Stock analysts expect Open Lending Co. (NASDAQ:LPRO – Get a rating) will report earnings per share of $0.17 for the current quarter, Zacks Investment Research reports. Six analysts provided Open Lending earnings estimates, with the highest EPS estimate being $0.20 and the lowest estimate $0.15. Open Lending reported earnings per share of $0.15 in the same quarter last year, which would indicate a positive growth rate of 13.3% year over year. The company is expected to announce its next results after the market closes on Monday, January 1.
According to Zacks, analysts expect Open Lending to report annual earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $0.94. For the next fiscal year, analysts expect the company to post earnings of $1.09 per share, with EPS estimates ranging from $1.00 to $1.25. Zacks earnings per share averages are an average based on a survey of sell-side analysts who follow Open Lending.
Open Loan (NASDAQ:LPRO – Get a rating) last released its results on Thursday, February 24. The company reported EPS of $0.23 for the quarter, beating the Zacks consensus estimate of $0.15 by $0.08. The company posted revenue of $51.60 million for the quarter, compared to $43.09 million expected by analysts. Open Lending had a return on equity of 47.17% and a net margin of 40.46%. The company’s revenue increased 30.3% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.12.
LPRO has been the subject of a number of recent research reports. Needham & Company LLC reduced its price target on Open Lending from $40.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 25. Zacks Investment Research downgraded Open Lending from a “hold” rating to a “strong sell” rating in a research report on Thursday. DA Davidson reduced its price target on Open Lending shares from $46.00 to $40.00 in a Thursday, February 3, research report. Morgan Stanley lowered its target price on Open Lending shares from $16.50 to $14.00 and set an “equal weight” rating for the company in a Friday, April 22 report. Finally, Deutsche Bank Aktiengesellschaft began covering open loans in a research note on Tuesday, March 29. They issued a “hold” rating and a price target of $25.00 for the company. One analyst gave the stock a sell rating, three gave the stock a hold rating, four gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $34.33.
Shares of Open Lending traded down $0.30 during Friday’s trading, hitting $14.42. The company’s stock had a trading volume of 22,423 shares, compared to an average volume of 802,671. The company has a market capitalization of $1.82 billion, a price-earnings ratio of 20.60 and a beta of 0.36. The company’s 50-day moving average is $17.73 and its two-hundred-day moving average is $22.15. Open Lending has a 52 week low of $13.39 and a 52 week high of $44.00. The company has a quick ratio of 16.81, a current ratio of 16.81 and a leverage ratio of 0.90.
A number of large investors have recently bought and sold shares of LPRO. True Wind Capital Management LP bought a new position in shares of Open Lending during the 4th quarter at a value of $169,615,000. Wasatch Advisors Inc. increased its stake in Open Lending shares by 9.5% during the 4th quarter. Wasatch Advisors Inc. now owns 16,086,753 shares of the company valued at $361,630,000 after purchasing an additional 1,392,801 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Open Lending shares by 105.1% in Q4. Massachusetts Financial Services Co. MA now owns 2,603,474 shares of the company worth $58,526,000 after purchasing an additional 1,334,307 shares during the period. Bernzott Capital Advisors bought a new position in shares of Open Lending in the first quarter for a value of approximately $22,345,000. Finally, Hound Partners LLC bought a new stake in shares of Open Lending in the 4th quarter at a value of $21,531,000. 86.43% of the shares are held by institutional investors and hedge funds.
About Open Loan (Get a rating)
Open Lending Corporation provides loan activation and risk analytics solutions to credit unions, regional banks, non-bank auto finance companies and captive OEM finance companies in the United States. United. It offers the Lender Protection Program (LPP), which is a software-as-a-service platform that facilitates lending decision-making and automated underwriting by third-party lenders and issuance of insurance against credit defaults through third party insurance providers.
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