Equities analysts forecast that Green Dot Co. (NYSE:GDOT) will post $223.31 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Green Dot’s earnings, with the highest sales estimate coming in at $225.82 million and the lowest estimate coming in at $222.00 million. Green Dot posted sales of $201.61 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.8%. The business is expected to announce its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Green Dot will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.04 billion. For the next year, analysts expect that the company will report sales of $1.13 billion per share, with estimates ranging from $1.09 billion to $1.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Green Dot.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Green Dot had a net margin of 12.73% and a return on equity of 14.26%. The business had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $250.18 million. During the same period last year, the business earned $0.55 EPS. The company’s revenue was up 16.1% compared to the same quarter last year.
A number of analysts have recently weighed in on GDOT shares. Morgan Stanley raised their price target on shares of Green Dot from $67.00 to $73.00 and gave the company a “$81.43” rating in a report on Thursday, July 19th. Guggenheim restated a “buy” rating and issued a $88.00 price target on shares of Green Dot in a report on Thursday, August 9th. Loop Capital lifted their target price on shares of Green Dot to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Jefferies Financial Group lifted their target price on shares of Green Dot from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Citigroup lifted their target price on shares of Green Dot from $77.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Green Dot currently has a consensus rating of “Buy” and a consensus price target of $79.00.
In related news, Director Kenneth C. Aldrich sold 31,281 shares of Green Dot stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $85.70, for a total value of $2,680,781.70. Following the completion of the sale, the director now directly owns 31,251 shares in the company, valued at approximately $2,678,210.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark L. Shifke sold 10,000 shares of Green Dot stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $86.36, for a total transaction of $863,600.00. Following the completion of the sale, the chief financial officer now owns 652,020 shares of the company’s stock, valued at $56,308,447.20. The disclosure for this sale can be found here. Insiders sold a total of 274,439 shares of company stock valued at $22,197,305 over the last quarter. 11.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. James Investment Research Inc. purchased a new position in Green Dot during the 2nd quarter worth approximately $101,000. Bank of Montreal Can purchased a new position in Green Dot during the 2nd quarter worth approximately $165,000. Point72 Asia Hong Kong Ltd raised its position in Green Dot by 17,911.1% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,242 shares of the financial services provider’s stock worth $208,000 after buying an additional 3,224 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Green Dot during the 2nd quarter worth approximately $228,000. Finally, Navellier & Associates Inc purchased a new position in Green Dot during the 1st quarter worth approximately $238,000. 84.99% of the stock is owned by institutional investors.
NYSE:GDOT opened at $90.93 on Friday. Green Dot has a fifty-two week low of $46.45 and a fifty-two week high of $91.51. The stock has a market capitalization of $4.49 billion, a PE ratio of 40.32 and a beta of 0.75. 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 Company Profile
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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