Zacks: Brokerages Expect Green Dot Co. (NYSE:GDOT) Will Announce Quarterly Sales of $229.31 Million

Equities analysts expect that Green Dot Co. (NYSE:GDOT) will post $229.31 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Green Dot’s earnings, with the lowest sales estimate coming in at $226.60 million and the highest estimate coming in at $235.40 million. Green Dot posted sales of $230.58 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Green Dot will report full-year sales of $1.08 billion for the current year, with estimates ranging from $1.06 billion to $1.12 billion. For the next year, analysts anticipate that the firm will post sales of $1.14 billion, with estimates ranging from $1.10 billion to $1.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Green Dot.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.33. The firm had revenue of $278.33 million for the quarter, compared to analyst estimates of $266.93 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share.

A number of equities analysts have weighed in on GDOT shares. Keefe, Bruyette & Woods lowered Green Dot from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $60.00 to $35.00 in a research note on Thursday, August 8th. Craig Hallum lowered their price objective on Green Dot from $100.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. TheStreet lowered Green Dot from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Northland Securities lowered their price objective on Green Dot from $58.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, BTIG Research lowered Green Dot from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.18.

NYSE GDOT opened at $29.53 on Friday. The stock’s fifty day moving average is $45.53 and its two-hundred day moving average is $55.59. The firm has a market capitalization of $1.48 billion, a P/E ratio of 11.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.04 and a current ratio of 1.01. Green Dot has a fifty-two week low of $24.19 and a fifty-two week high of $93.00.

In other Green Dot news, insider Konrad Alt sold 919 shares of Green Dot stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $41.91, for a total value of $38,515.29. Following the sale, the insider now owns 76,724 shares in the company, valued at $3,215,502.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brett Narlinger sold 5,532 shares of Green Dot stock in a transaction on Friday, May 24th. The shares were sold at an average price of $48.87, for a total value of $270,348.84. Following the completion of the sale, the executive now owns 81,554 shares in the company, valued at approximately $3,985,543.98. The disclosure for this sale can be found here. Insiders sold 13,238 shares of company stock worth $630,772 in the last 90 days. Company insiders own 7.80% of the company’s stock.

A number of large investors have recently bought and sold shares of GDOT. Retirement Systems of Alabama raised its holdings in shares of Green Dot by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 226 shares during the period. Profund Advisors LLC raised its holdings in shares of Green Dot by 9.3% in the 2nd quarter. Profund Advisors LLC now owns 6,077 shares of the financial services provider’s stock valued at $297,000 after buying an additional 515 shares during the period. Arizona State Retirement System raised its holdings in shares of Green Dot by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock valued at $1,698,000 after buying an additional 522 shares during the period. Pitcairn Co. raised its holdings in shares of Green Dot by 10.0% in the 2nd quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock valued at $321,000 after buying an additional 595 shares during the period. Finally, Stone Ridge Asset Management LLC raised its holdings in shares of Green Dot by 3.7% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 16,663 shares of the financial services provider’s stock valued at $815,000 after buying an additional 600 shares during the period. Institutional investors own 87.62% of the company’s stock.

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, and other financial services.

Further Reading: Limitations of the P/E Growth ratio

Get a free copy of the Zacks research report on Green Dot (GDOT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Green Dot (NYSE:GDOT)

Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply