Green Dot (GDOT) Updates FY18 Earnings Guidance

Green Dot (NYSE:GDOT) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.81-2.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.61. The company issued revenue guidance of $982-997 million, compared to the consensus revenue estimate of $988.19 million.

Shares of Green Dot (NYSE GDOT) traded down $0.54 during trading hours on Wednesday, hitting $60.29. The company had a trading volume of 452,655 shares, compared to its average volume of 305,130. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09. Green Dot has a twelve month low of $26.21 and a twelve month high of $65.88. The stock has a market capitalization of $3,071.56, a price-to-earnings ratio of 35.35 and a beta of 0.87.

GDOT has been the subject of several recent research reports. Citigroup upgraded Green Dot from a neutral rating to a buy rating and increased their price objective for the stock from $66.00 to $68.00 in a report on Tuesday, February 13th. Guggenheim reiterated a buy rating on shares of Green Dot in a report on Wednesday, January 10th. Zacks Investment Research upgraded Green Dot from a hold rating to a buy rating and set a $71.00 price objective for the company in a report on Monday, November 13th. BTIG Research upgraded Green Dot from a neutral rating to a buy rating and set a $65.00 price objective for the company in a report on Wednesday, November 8th. Finally, Cowen reiterated a hold rating and set a $55.00 price objective on shares of Green Dot in a report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $55.69.

In other Green Dot news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $63.08, for a total transaction of $504,324.60. Following the transaction, the insider now directly owns 176,621 shares in the company, valued at $11,141,252.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven W. Streit sold 2,665 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $62.44, for a total value of $166,402.60. Following the transaction, the chief executive officer now owns 176,621 shares in the company, valued at $11,028,215.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,856 shares of company stock worth $17,918,338. Corporate insiders own 11.00% of the company’s stock.

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About Green Dot

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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