$238.36 Million in Sales Expected for Green Dot Co. (NYSE:GDOT) This Quarter

Wall Street analysts expect Green Dot Co. (NYSE:GDOT) to post $238.36 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Green Dot’s earnings. The lowest sales estimate is $235.86 million and the highest is $240.10 million. Green Dot reported sales of $264.98 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The company is expected to issue its next quarterly earnings report on Wednesday, August 5th.

According to Zacks, analysts expect that Green Dot will report full-year sales of $1.02 billion for the current financial year, with estimates ranging from $992.23 million to $1.04 billion. For the next financial year, analysts anticipate that the business will report sales of $1.08 billion, with estimates ranging from $1.02 billion to $1.14 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Green Dot.

Green Dot (NYSE:GDOT) last posted its earnings results on Monday, May 11th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.34. Green Dot had a net margin of 7.32% and a return on equity of 11.35%. The firm had revenue of $362.20 million during the quarter, compared to the consensus estimate of $324.12 million. During the same quarter last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis.

GDOT has been the topic of several analyst reports. Northland Securities increased their price objective on Green Dot from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Citigroup reduced their price target on Green Dot from $36.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. ValuEngine downgraded Green Dot from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target on shares of Green Dot in a research note on Tuesday, May 12th. Finally, Craig Hallum boosted their price target on shares of Green Dot from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.69.

Shares of NYSE:GDOT opened at $49.08 on Wednesday. The firm’s 50-day moving average is $38.43 and its two-hundred day moving average is $30.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.04 and a quick ratio of 1.04. Green Dot has a 1 year low of $14.20 and a 1 year high of $51.86. The firm has a market capitalization of $2.45 billion, a PE ratio of 32.08 and a beta of 1.08.

In related news, insider Jason Bibelheimer sold 12,806 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $40.00, for a total value of $512,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert Strub sold 4,603 shares of Green Dot stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $25.00, for a total value of $115,075.00. Following the completion of the sale, the chief operating officer now directly owns 101,533 shares in the company, valued at approximately $2,538,325. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 40,250 shares of company stock valued at $1,451,655. Corporate insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Green Dot by 540.1% during the first quarter. Versant Capital Management Inc now owns 1,293 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,091 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Green Dot in the first quarter valued at $69,000. Flagship Harbor Advisors LLC raised its stake in shares of Green Dot by 1,325.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,850 shares of the financial services provider’s stock worth $72,000 after buying an additional 2,650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Green Dot by 46.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,025 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,275 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Green Dot by 19.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,181 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 690 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Green Dot Company Profile

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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