Yirendai (YRD) Upgraded by Zacks Investment Research to Hold
Yirendai (NYSE:YRD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “
A number of other equities research analysts have also issued reports on YRD. Macquarie assumed coverage on Yirendai in a research note on Tuesday, November 14th. They set an “outperform” rating and a $60.00 price target for the company. TheStreet raised Yirendai from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Needham & Company LLC raised their price target on Yirendai from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Citigroup assumed coverage on Yirendai in a research note on Tuesday, November 14th. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.00.
Yirendai (NYSE:YRD) last issued its quarterly earnings results on Tuesday, November 14th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.04). Yirendai had a return on equity of 70.10% and a net margin of 27.09%. The business had revenue of $227.50 million for the quarter, compared to the consensus estimate of $201.27 million. During the same period in the prior year, the business posted $0.85 earnings per share. Yirendai’s revenue was up 73.0% on a year-over-year basis. equities analysts predict that Yirendai will post 3.1 EPS for the current year.
Several hedge funds have recently modified their holdings of YRD. JPMorgan Chase & Co. lifted its stake in shares of Yirendai by 2,216.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,173 shares of the technology company’s stock worth $137,000 after acquiring an additional 3,036 shares during the last quarter. TIAA CREF Investment Management LLC bought a new stake in Yirendai during the 2nd quarter valued at $204,000. Rehmann Capital Advisory Group bought a new stake in Yirendai during the 3rd quarter valued at $205,000. Peregrine Asset Advisers Inc. bought a new stake in Yirendai during the 3rd quarter valued at $252,000. Finally, Northern Trust Corp bought a new stake in Yirendai during the 2nd quarter valued at $260,000. 10.02% of the stock is owned by hedge funds and other institutional investors.
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.
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