Yirendai Ltd. (YRD) Raised to “Strong-Buy” at ValuEngine
ValuEngine upgraded shares of Yirendai Ltd. (NYSE:YRD) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded Yirendai from a hold rating to a strong-buy rating and set a $27.00 price target for the company in a report on Wednesday, May 24th. Needham & Company LLC reiterated a buy rating and set a $42.00 price target (up from $33.00) on shares of Yirendai in a report on Tuesday, August 1st. They noted that the move was a valuation call.
Yirendai (YRD) opened at 38.35 on Thursday. The firm’s 50-day moving average is $35.13 and its 200-day moving average is $27.35. Yirendai has a 52 week low of $18.80 and a 52 week high of $42.10. The stock has a market capitalization of $2.29 billion, a P/E ratio of 11.51 and a beta of 8.56.
Yirendai (NYSE:YRD) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $773.79 million for the quarter, compared to analyst estimates of $153.78 million. Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The firm’s quarterly revenue was up 343.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts predict that Yirendai will post $2.93 EPS for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, September 28th.
Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Yirendai by 4.2% in the second quarter. Principal Financial Group Inc. now owns 31,505 shares of the technology company’s stock worth $788,000 after buying an additional 1,283 shares in the last quarter. Bank of America Corp DE boosted its stake in Yirendai by 24.5% in the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after buying an additional 1,504 shares in the last quarter. Navellier & Associates Inc boosted its stake in Yirendai by 11.5% in the second quarter. Navellier & Associates Inc now owns 18,048 shares of the technology company’s stock worth $451,000 after buying an additional 1,861 shares in the last quarter. Global X Management Co. LLC boosted its stake in Yirendai by 399.0% in the second quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock worth $206,000 after buying an additional 6,576 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Yirendai during the first quarter worth about $176,000. Institutional investors and hedge funds own 6.08% of the company’s stock.
Yirendai Company Profile
Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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