Green Dot Co. (GDOT) Expected to Post Quarterly Sales of $249.74 Million

Wall Street analysts forecast that Green Dot Co. (NYSE:GDOT) will report sales of $249.74 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Green Dot’s earnings. The lowest sales estimate is $246.30 million and the highest is $251.93 million. Green Dot reported sales of $222.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The firm is expected to report its next earnings results on Tuesday, August 14th.

On average, analysts expect that Green Dot will report full-year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.02 billion. For the next financial year, analysts forecast that the firm will post sales of $1.09 billion per share, with estimates ranging from $1.07 billion to $1.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Green Dot.

Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, May 9th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.11. The company had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $297.25 million. Green Dot had a return on equity of 14.21% and a net margin of 12.10%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS.

Several brokerages have issued reports on GDOT. Craig Hallum upped their target price on Green Dot from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 10th. ValuEngine upgraded Green Dot from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Green Dot from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Compass Point cut Green Dot from a “buy” rating to a “neutral” rating in a report on Tuesday, March 13th. Finally, William Blair reiterated an “outperform” rating on shares of Green Dot in a report on Monday, February 12th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.64.

In related news, insider Steven W. Streit sold 23,922 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $72.55, for a total transaction of $1,735,541.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven W. Streit sold 39,895 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $62.42, for a total value of $2,490,245.90. Following the transaction, the insider now owns 285,958 shares of the company’s stock, valued at $17,849,498.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 420,144 shares of company stock valued at $27,019,303. Company insiders own 11.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its holdings in Green Dot by 70.4% during the 4th quarter. LS Investment Advisors LLC now owns 2,618 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,082 shares during the period. Globeflex Capital L P purchased a new position in Green Dot during the 4th quarter valued at about $185,000. Point72 Asia Hong Kong Ltd boosted its holdings 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 valued at $208,000 after acquiring an additional 3,224 shares during the period. Verition Fund Management LLC purchased a new position in Green Dot during the 4th quarter valued at about $216,000. Finally, Psagot Investment House Ltd. purchased a new position in Green Dot during the 1st quarter valued at about $231,000. Institutional investors own 82.20% of the company’s stock.

Shares of NYSE:GDOT opened at $72.25 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 45.73 and a beta of 0.76. Green Dot has a 52-week low of $71.97 and a 52-week high of $72.68.

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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