Brokerages predict that Green Dot Co. (NYSE:GDOT) will announce $256.11 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Green Dot’s earnings, with the highest sales estimate coming in at $263.20 million and the lowest estimate coming in at $249.30 million. Green Dot reported sales of $238.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is expected to announce its next quarterly earnings results on Wednesday, February 17th.
According to Zacks, analysts expect that Green Dot will report full year sales of $1.18 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.19 billion. For the next fiscal year, analysts expect that the company will post sales of $1.21 billion, with estimates ranging from $1.17 billion to $1.27 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Green Dot.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.14. Green Dot had a return on equity of 7.73% and a net margin of 4.01%. The business had revenue of $291.10 million during the quarter, compared to the consensus estimate of $244.66 million. During the same period in the previous year, the company posted $0.20 EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year.
A number of research analysts recently commented on GDOT shares. Deutsche Bank Aktiengesellschaft boosted their price target on Green Dot from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, November 5th. BTIG Research reaffirmed a “buy” rating and issued a $72.00 price objective (up previously from $63.00) on shares of Green Dot in a research note on Sunday, October 25th. They noted that the move was a valuation call. Needham & Company LLC lifted their price objective on Green Dot from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Jefferies Financial Group lifted their price objective on Green Dot from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. Finally, Craig Hallum lifted their price objective on Green Dot from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Green Dot presently has a consensus rating of “Buy” and a consensus price target of $55.45.
GDOT stock opened at $55.80 on Friday. Green Dot has a twelve month low of $14.20 and a twelve month high of $64.97. The stock has a market cap of $2.98 billion, a P/E ratio of 62.00 and a beta of 0.96. The business’s 50-day moving average price is $55.53 and its 200-day moving average price is $52.98.
In other news, Director William I. Jacobs sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $61.51, for a total transaction of $30,755.00. Following the transaction, the director now owns 66,401 shares of the company’s stock, valued at approximately $4,084,325.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Bibelheimer sold 951 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $56.19, for a total value of $53,436.69. Following the transaction, the insider now directly owns 74,870 shares in the company, valued at approximately $4,206,945.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 725,226 shares of company stock worth $37,906,256. Corporate insiders own 4.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. grew its position in Green Dot by 81.0% in the 3rd quarter. Sei Investments Co. now owns 28,565 shares of the financial services provider’s stock valued at $1,448,000 after acquiring an additional 12,785 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Green Dot by 5.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,500 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 600 shares during the last quarter. Paloma Partners Management Co bought a new position in Green Dot in the 3rd quarter valued at $245,000. Twinbeech Capital LP bought a new position in Green Dot in the 3rd quarter valued at $712,000. Finally, Voloridge Investment Management LLC bought a new position in Green Dot in the 3rd quarter valued at $3,270,000. 87.16% of the stock is currently owned by institutional investors.
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, payroll debit cards, and other financial services.
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