Green Dot Corporation (GDOT) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Green Dot Corporation (NYSE:GDOT) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.16, Morningstar.com reports. Green Dot Corporation had a net margin of 6.65% and a return on equity of 10.11%. The company had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. During the same quarter last year, the business posted $0.27 EPS. Green Dot Corporation’s quarterly revenue was up 28.2% compared to the same quarter last year. Green Dot Corporation updated its Q3 guidance to $0.25 EPS and its FY17 guidance to $1.99-$2.03 EPS.
Green Dot Corporation (NYSE GDOT) opened at 40.35 on Wednesday. The firm has a 50-day moving average of $39.52 and a 200 day moving average of $34.02. Green Dot Corporation has a one year low of $21.45 and a one year high of $40.84. The company has a market capitalization of $2.01 billion, a P/E ratio of 41.47 and a beta of 1.06.
Several brokerages have recently issued reports on GDOT. Citigroup Inc. raised their price target on shares of Green Dot Corporation from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research lowered shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Lake Street Capital upgraded shares of Green Dot Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $44.00 in a research note on Wednesday. William Blair upgraded shares of Green Dot Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods set a $37.00 price target on shares of Green Dot Corporation and gave the stock a “hold” rating in a research note on Thursday, July 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Green Dot Corporation currently has a consensus rating of “Buy” and a consensus target price of $40.25.
In related news, CFO Mark L. Shifke sold 5,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $36.09, for a total transaction of $180,450.00. Following the completion of the transaction, the chief financial officer now owns 780,062 shares in the company, valued at $28,152,437.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel John C. Ricci sold 3,686 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $35.97, for a total transaction of $132,585.42. Following the transaction, the general counsel now owns 90,032 shares of the company’s stock, valued at approximately $3,238,451.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,996 shares of company stock valued at $8,357,963. Corporate insiders own 11.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. bought a new position in shares of Green Dot Corporation during the second quarter worth $108,000. IFP Advisors Inc raised its position in shares of Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,824 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Green Dot Corporation during the first quarter worth $118,000. Turner Investments LLC bought a new position in shares of Green Dot Corporation during the second quarter worth $154,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Green Dot Corporation during the first quarter worth $162,000. Hedge funds and other institutional investors own 81.21% of the company’s stock.
Green Dot Corporation 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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