$393.24 Million in Sales Expected for Green Dot Co. (NYSE:GDOT) This Quarter

Wall Street analysts forecast that Green Dot Co. (NYSE:GDOTGet Rating) will announce sales of $393.24 million for the current quarter, Zacks reports. Four analysts have provided estimates for Green Dot’s earnings, with the highest sales estimate coming in at $413.70 million and the lowest estimate coming in at $366.14 million. Green Dot posted sales of $379.81 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The company is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Green Dot will report full-year sales of $1.42 billion for the current financial year. For the next year, analysts forecast that the firm will post sales of $1.53 billion, with estimates ranging from $1.50 billion to $1.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Green Dot.

Green Dot (NYSE:GDOTGet Rating) last released its quarterly earnings data on Thursday, February 24th. The financial services provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.08). Green Dot had a net margin of 3.31% and a return on equity of 7.79%. The firm had revenue of $330.84 million during the quarter, compared to the consensus estimate of $309.35 million. During the same quarter in the prior year, the company earned $0.03 EPS. Green Dot’s quarterly revenue was up 16.4% on a year-over-year basis.

GDOT has been the subject of a number of recent analyst reports. Barclays lowered their price objective on shares of Green Dot from $55.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, February 28th. BTIG Research lowered their target price on Green Dot from $72.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, January 26th. Needham & Company LLC lowered their target price on Green Dot from $63.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 25th. Northland Securities lowered their target price on Green Dot from $42.00 to $38.00 in a report on Wednesday, February 16th. Finally, William Blair reiterated an “outperform” rating on shares of Green Dot in a report on Friday, February 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Green Dot currently has a consensus rating of “Hold” and a consensus target price of $45.22.

GDOT opened at $27.41 on Friday. Green Dot has a 12 month low of $23.09 and a 12 month high of $54.90. The company has a fifty day simple moving average of $28.42 and a 200 day simple moving average of $35.47. The stock has a market cap of $1.50 billion, a P/E ratio of 32.26 and a beta of 0.95.

In other news, Director Glinda Bridgforth-Hodges sold 3,910 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $27.25, for a total value of $106,547.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 5,410 shares of company stock valued at $152,658 in the last 90 days. 3.40% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Green Dot by 0.6% during the third quarter. BlackRock Inc. now owns 8,027,426 shares of the financial services provider’s stock worth $404,020,000 after acquiring an additional 44,330 shares during the last quarter. State Street Corp lifted its position in Green Dot by 7.9% during the fourth quarter. State Street Corp now owns 2,036,962 shares of the financial services provider’s stock worth $73,820,000 after acquiring an additional 148,461 shares during the last quarter. Contour Asset Management LLC lifted its position in Green Dot by 37.0% during the fourth quarter. Contour Asset Management LLC now owns 2,023,561 shares of the financial services provider’s stock worth $73,334,000 after acquiring an additional 546,381 shares during the last quarter. Brahman Capital Corp. lifted its position in Green Dot by 4.0% during the third quarter. Brahman Capital Corp. now owns 1,541,619 shares of the financial services provider’s stock worth $77,590,000 after acquiring an additional 59,732 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Green Dot by 12.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,371,139 shares of the financial services provider’s stock worth $49,690,000 after acquiring an additional 155,256 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

About Green Dot (Get Rating)

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates through Consumer Services, Business to Business Services, and Money Movement Services segments. The company offers deposit account programs, such network-branded reloadable prepaid debit cards, network-branded gift cards, and secured credit cards.

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

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