Green Dot Co. (NYSE:GDOT) Expected to Post Quarterly Sales of $358.77 Million

Wall Street analysts forecast that Green Dot Co. (NYSE:GDOT – Get Rating) will post $358.77 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Green Dot’s earnings. The lowest sales estimate is $355.67 million and the highest is $363.50 million. Green Dot reported sales of $357.94 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.2%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Green Dot will report full year sales of $1.42 billion for the current year, with estimates ranging from $1.41 billion to $1.43 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.52 billion, with estimates ranging from $1.50 billion to $1.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Green Dot.

Green Dot (NYSE:GDOT – Get Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.21. The company had revenue of $400.60 million during the quarter, compared to analyst estimates of $390.87 million. Green Dot had a net margin of 4.19% and a return on equity of 9.15%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share.

Several equities research analysts recently weighed in on GDOT shares. Northland Securities dropped their target price on Green Dot from $42.00 to $38.00 in a report on Wednesday, February 16th. BTIG Research lowered their price objective on shares of Green Dot from $72.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Needham & Company LLC reduced their price target on Green Dot from $63.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Zacks Investment Research upgraded Green Dot from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a research report on Monday, May 2nd. Finally, StockNews.com assumed coverage on Green Dot in a report on Thursday, March 31st. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.63.

Shares of GDOT opened at $28.80 on Thursday. Green Dot has a fifty-two week low of $23.09 and a fifty-two week high of $54.90. The firm has a 50 day moving average price of $27.49 and a 200-day moving average price of $31.69. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 26.42 and a beta of 0.91.

In other news, Director Glinda Bridgforth-Hodges sold 3,910 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $27.25, for a total value of $106,547.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,410 shares of company stock worth $146,443 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GDOT. Nisa Investment Advisors LLC increased its holdings in Green Dot by 132.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,560 shares of the financial services provider’s stock worth $49,000 after buying an additional 890 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Green Dot by 24.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,221 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 437 shares during the period. SG Americas Securities LLC purchased a new position in shares of Green Dot during the first quarter valued at approximately $137,000. Point72 Hong Kong Ltd bought a new position in Green Dot during the fourth quarter valued at approximately $139,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Green Dot in the first quarter worth approximately $154,000. Institutional investors own 92.02% of the company’s stock.

Green Dot Company Profile (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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