Wall Street analysts predict that Green Dot Co. (NYSE:GDOT) will post $223.31 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Green Dot’s earnings. The lowest sales estimate is $222.00 million and the highest is $225.82 million. Green Dot posted sales of $201.61 million during the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Green Dot will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $1.03 billion to $1.04 billion. For the next financial year, analysts forecast that the business will report sales of $1.13 billion, with estimates ranging from $1.09 billion to $1.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Green Dot.
Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, August 8th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The business had revenue of $258.30 million for the quarter, compared to analyst estimates of $250.18 million. During the same quarter last year, the company earned $0.55 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on the company. SunTrust Banks raised their target price on Green Dot to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Citigroup raised their target price on Green Dot from $77.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Morgan Stanley raised their target price on Green Dot from $67.00 to $73.00 and gave the stock a “$81.43” rating in a research report on Thursday, July 19th. Craig Hallum reissued a “buy” rating on shares of Green Dot in a research report on Friday, September 14th. Finally, Zacks Investment Research raised Green Dot from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Wednesday, July 11th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $83.00.
In related news, insider Steven W. Streit sold 29,580 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $76.53, for a total transaction of $2,263,757.40. Following the transaction, the insider now owns 176,273 shares in the company, valued at approximately $13,490,172.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven W. Streit sold 9,860 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $77.78, for a total value of $766,910.80. Following the transaction, the chief executive officer now owns 176,273 shares in the company, valued at approximately $13,710,513.94. The disclosure for this sale can be found here. Insiders have sold a total of 344,280 shares of company stock worth $28,837,674 in the last 90 days. 11.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in GDOT. NJ State Employees Deferred Compensation Plan grew its stake in shares of Green Dot by 25.0% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 10,000 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 2,000 shares during the last quarter. Scout Investments Inc. grew its stake in shares of Green Dot by 2.3% in the 3rd quarter. Scout Investments Inc. now owns 56,256 shares of the financial services provider’s stock valued at $4,997,000 after purchasing an additional 1,259 shares during the last quarter. KAMES CAPITAL plc grew its stake in shares of Green Dot by 146.8% in the 3rd quarter. KAMES CAPITAL plc now owns 704,566 shares of the financial services provider’s stock valued at $62,580,000 after purchasing an additional 419,034 shares during the last quarter. Clarus Wealth Advisors purchased a new position in shares of Green Dot in the 3rd quarter valued at approximately $287,000. Finally, United Services Automobile Association grew its stake in shares of Green Dot by 11.8% in the 2nd quarter. United Services Automobile Association now owns 9,406 shares of the financial services provider’s stock valued at $690,000 after purchasing an additional 991 shares during the last quarter. Hedge funds and other institutional investors own 83.61% of the company’s stock.
Shares of NYSE GDOT opened at $75.81 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. Green Dot has a fifty-two week low of $54.08 and a fifty-two week high of $91.51. The stock has a market cap of $4.01 billion, a PE ratio of 48.08 and a beta of 0.70.
About Green Dot
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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