$208.45 Million in Sales Expected for Green Dot Co. (GDOT) This Quarter
Wall Street analysts forecast that Green Dot Co. (NYSE:GDOT) will report $208.45 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Green Dot’s earnings, with the lowest sales estimate coming in at $207 million and the highest estimate coming in at $210.15 million. Green Dot reported sales of $173.49 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.2%. The business is scheduled to report its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Green Dot will report full-year sales of $208.45 million for the current year, with estimates ranging from $821.3 million to $846.18 million. For the next year, analysts expect that the firm will report sales of $909.83 million per share, with estimates ranging from $898.19 million to $924.7 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Green Dot.
Green Dot (NYSE:GDOT) last released its earnings results on Tuesday, May 9th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. Green Dot had a return on equity of 7.76% and a net margin of 5.22%. The firm had revenue of $253 million for the quarter, compared to analysts’ expectations of $233.49 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis.
Several research analysts have recently commented on GDOT shares. Citigroup Inc boosted their price target on Green Dot to $32.00 in a research report on Thursday, February 23rd. TheStreet raised Green Dot from a “c+” rating to a “b-” rating in a research report on Thursday, February 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $42.00 price target on shares of Green Dot in a research report on Monday, May 22nd. Loop Capital reissued a “buy” rating and issued a $41.00 price target (up from $33.00) on shares of Green Dot in a research report on Thursday, March 16th. Finally, SunTrust Banks, Inc. raised Green Dot from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.20.
In related news, COO Kuan Archer sold 12,300 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $29.65, for a total transaction of $364,695.00. Following the transaction, the chief operating officer now directly owns 99,257 shares of the company’s stock, valued at approximately $2,942,970.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark L. Shifke sold 5,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $30.27, for a total value of $151,350.00. Following the transaction, the chief financial officer now directly owns 790,062 shares in the company, valued at $23,915,176.74. The disclosure for this sale can be found here. Insiders have sold a total of 211,185 shares of company stock worth $7,486,073 over the last ninety days. 11.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund increased its stake in Green Dot by 2.4% in the third quarter. New York State Common Retirement Fund now owns 71,390 shares of the financial services provider’s stock valued at $1,646,000 after buying an additional 1,682 shares during the last quarter. Teachers Advisors LLC increased its stake in Green Dot by 37.4% in the third quarter. Teachers Advisors LLC now owns 104,538 shares of the financial services provider’s stock valued at $2,411,000 after buying an additional 28,430 shares during the last quarter. Rhumbline Advisers increased its stake in Green Dot by 5.0% in the third quarter. Rhumbline Advisers now owns 61,973 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 2,935 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Green Dot by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,600 shares of the financial services provider’s stock valued at $221,000 after buying an additional 170 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Green Dot during the third quarter valued at $266,000. 77.31% of the stock is currently owned by institutional investors.
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Shares of Green Dot (NYSE:GDOT) opened at 36.37 on Friday. Green Dot has a 1-year low of $20.79 and a 1-year high of $38.34. The stock has a 50 day moving average price of $34.68 and a 200-day moving average price of $28.92. The stock has a market capitalization of $1.81 billion, a PE ratio of 37.38 and a beta of 1.18.
Green Dot Company Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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