Green Dot Corporation (GDOT) Expected to Post Quarterly Sales of $208.45 Million
Wall Street analysts predict that Green Dot Corporation (NYSE:GDOT) will announce $208.45 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Green Dot Corporation’s earnings. The highest sales estimate is $210.15 million and the lowest is $207.00 million. Green Dot Corporation reported sales of $173.49 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.2%. The firm is expected to announce its next earnings report after the market closes on Tuesday, August 8th.
On average, analysts expect that Green Dot Corporation will report full-year sales of $208.45 million for the current fiscal year, with estimates ranging from $821.30 million to $846.18 million. For the next year, analysts forecast that the business will post sales of $909.83 million per share, with estimates ranging from $898.19 million to $924.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Green Dot Corporation.
Green Dot Corporation (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.14. The firm had revenue of $253 million during the quarter, compared to analyst estimates of $233.49 million. Green Dot Corporation had a net margin of 6.65% and a return on equity of 10.11%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share.
Several analysts have weighed in on the stock. BidaskClub cut shares of Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $46.00 target price (up from $40.00) on shares of Green Dot Corporation in a research report on Monday, July 24th. Zacks Investment Research cut shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Lake Street Capital began coverage on shares of Green Dot Corporation in a research report on Monday, June 26th. They issued a “hold” rating and a $41.00 target price for the company. Finally, Keefe, Bruyette & Woods set a $37.00 target price on shares of Green Dot Corporation and gave the company a “hold” rating in a research report on Thursday, July 6th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $39.88.
In other Green Dot Corporation news, Director Kenneth C. Aldrich sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $39.90, for a total transaction of $399,000.00. Following the sale, the director now directly owns 20,142 shares of the company’s stock, valued at approximately $803,665.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John C. Ricci sold 30,709 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $36.16, for a total transaction of $1,110,437.44. Following the sale, the general counsel now directly owns 115,997 shares in the company, valued at $4,194,451.52. The disclosure for this sale can be found here. Insiders have sold a total of 225,996 shares of company stock worth $8,357,963 over the last three months. Insiders own 11.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Green Dot Corporation by 53,389.4% in the first quarter. BlackRock Inc. now owns 5,309,357 shares of the financial services provider’s stock worth $177,121,000 after buying an additional 5,299,431 shares in the last quarter. Vanguard Group Inc. raised its stake in Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after buying an additional 412,984 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Green Dot Corporation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock worth $91,865,000 after buying an additional 19,113 shares in the last quarter. State Street Corp raised its stake in Green Dot Corporation by 7.1% in the first quarter. State Street Corp now owns 999,048 shares of the financial services provider’s stock worth $33,324,000 after buying an additional 65,849 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Green Dot Corporation by 91.0% in the second quarter. Russell Investments Group Ltd. now owns 726,097 shares of the financial services provider’s stock worth $27,975,000 after buying an additional 346,014 shares in the last quarter. 81.21% of the stock is currently owned by institutional investors.
Shares of Green Dot Corporation (NYSE:GDOT) opened at 39.67 on Monday. The company has a market capitalization of $1.97 billion, a PE ratio of 40.77 and a beta of 1.06. The firm’s 50-day moving average is $39.51 and its 200 day moving average is $33.90. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $40.84.
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About Green Dot Corporation
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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