Wall Street brokerages forecast that Green Dot Co. (NYSE:GDOT) will post sales of $230.18 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Green Dot’s earnings. The lowest sales estimate is $226.60 million and the highest is $235.40 million. Green Dot reported sales of $230.58 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that Green Dot will report full year sales of $1.07 billion for the current financial year, with estimates ranging from $1.06 billion to $1.08 billion. For the next financial year, analysts expect that the company will post sales of $1.12 billion, with estimates ranging from $1.09 billion to $1.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Green Dot.
Green Dot (NYSE:GDOT) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.33. Green Dot had a net margin of 10.81% and a return on equity of 16.77%. The business had revenue of $278.33 million for the quarter, compared to analyst estimates of $266.93 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year.
A number of equities research analysts have commented on the stock. Barclays set a $41.00 price objective on shares of Green Dot and gave the stock a “buy” rating in a report on Monday, August 12th. Canaccord Genuity assumed coverage on shares of Green Dot in a report on Thursday, September 12th. They set a “hold” rating and a $29.00 price objective on the stock. Guggenheim raised shares of Green Dot from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on shares of Green Dot to $42.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, TheStreet lowered shares of Green Dot from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.23.
Shares of NYSE:GDOT opened at $25.02 on Wednesday. Green Dot has a 12 month low of $22.45 and a 12 month high of $93.00. The company’s 50-day moving average price is $25.90 and its two-hundred day moving average price is $42.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.26 billion, a P/E ratio of 9.89 and a beta of 1.11.
In other Green Dot news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.32, for a total transaction of $158,648.64. Following the transaction, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Green Dot by 6.4% during the 2nd quarter. BlackRock Inc. now owns 6,140,997 shares of the financial services provider’s stock valued at $300,294,000 after purchasing an additional 370,866 shares during the period. Vanguard Group Inc. raised its position in shares of Green Dot by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,494,866 shares of the financial services provider’s stock valued at $219,799,000 after acquiring an additional 42,826 shares during the period. Bank of New York Mellon Corp raised its position in shares of Green Dot by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,945,275 shares of the financial services provider’s stock valued at $95,124,000 after acquiring an additional 159,771 shares during the period. Coatue Management LLC acquired a new stake in shares of Green Dot in the 2nd quarter valued at approximately $61,188,000. Finally, Stephens Investment Management Group LLC raised its position in shares of Green Dot by 23.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,106,376 shares of the financial services provider’s stock valued at $54,102,000 after acquiring an additional 211,017 shares during the period. Institutional investors own 88.87% of the company’s stock.
About Green Dot
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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