Green Dot Corporation (GDOT) Updates Q3 Earnings Guidance
Green Dot Corporation (NYSE:GDOT) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. The company issued revenue guidance of $187-$189 million, compared to the consensus revenue estimate of $186.29 million.Green Dot Corporation also updated its FY17 guidance to $1.99-$2.03 EPS.
Green Dot Corporation (NYSE GDOT) traded up 1.38% during midday trading on Tuesday, hitting $40.35. 277,198 shares of the stock traded hands. The firm has a market cap of $2.01 billion, a PE ratio of 41.47 and a beta of 1.06. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $40.84. The company’s 50 day moving average price is $39.51 and its 200 day moving average price is $33.90.
Green Dot Corporation (NYSE:GDOT) last announced its earnings results on Tuesday, May 9th. The financial services provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.14. Green Dot Corporation had a return on equity of 10.11% and a net margin of 6.65%. The business had revenue of $253 million during the quarter, compared to the consensus estimate of $233.49 million. During the same period in the prior year, the company posted $0.78 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts predict that Green Dot Corporation will post $1.95 earnings per share for the current fiscal year.
Several research firms recently commented on GDOT. Citigroup Inc. increased their price objective on Green Dot Corporation from $39.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, May 10th. Zacks Investment Research downgraded Green Dot Corporation from a buy rating to a hold rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods set a $37.00 price objective on Green Dot Corporation and gave the company a hold rating in a research note on Thursday, July 6th. Lake Street Capital began coverage on Green Dot Corporation in a research note on Monday, June 26th. They issued a hold rating and a $41.00 price objective for the company. Finally, BidaskClub downgraded Green Dot Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $39.88.
In other Green Dot Corporation news, General Counsel John C. Ricci sold 30,709 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $36.16, for a total value of $1,110,437.44. Following the completion of the sale, the general counsel now directly owns 115,997 shares of the company’s stock, valued at approximately $4,194,451.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark L. Shifke sold 5,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $36.09, for a total value of $180,450.00. Following the completion of the sale, the chief financial officer now directly owns 780,062 shares of the company’s stock, valued at $28,152,437.58. The disclosure for this sale can be found here. Insiders sold a total of 225,996 shares of company stock valued at $8,357,963 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Green Dot Corporation (GDOT) Updates Q3 Earnings Guidance” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/08/08/green-dot-corporation-gdot-updates-q3-earnings-guidance.html.
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.
Receive News & Ratings for Green Dot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot Corporation and related companies with MarketBeat.com's FREE daily email newsletter.