Zacks: Brokerages Expect Green Dot Co. (NYSE:GDOT) Will Announce Quarterly Sales of $358.77 Million

Wall Street brokerages expect Green Dot Co. (NYSE:GDOTGet Rating) to post $358.77 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Green Dot’s earnings, with estimates ranging from $355.67 million to $363.50 million. Green Dot posted sales of $357.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.2%. The company is expected to report its next 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 financial year, analysts expect that the firm will report sales of $1.52 billion, with estimates ranging from $1.50 billion to $1.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Green Dot.

Green Dot (NYSE:GDOTGet Rating) last posted its earnings results on Thursday, May 5th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.15% and a net margin of 4.19%. Green Dot’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share.

A number of equities research analysts recently commented on GDOT shares. Northland Securities dropped their target price on Green Dot from $42.00 to $38.00 in a research report on Wednesday, February 16th. William Blair reiterated an “outperform” rating on shares of Green Dot in a research note on Friday, February 25th. Barclays decreased their target price 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. Needham & Company LLC cut their price target on Green Dot from $63.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Finally, BTIG Research dropped their target price on Green Dot from $72.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, January 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.63.

Shares of NYSE:GDOT opened at $28.80 on Thursday. The business’s 50-day moving average is $27.49 and its 200 day moving average is $31.69. Green Dot has a 1 year low of $23.09 and a 1 year high of $54.90. The firm has a market capitalization of $1.56 billion, a P/E ratio of 26.42 and a beta of 0.91.

In related 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 transaction of $106,547.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 5,410 shares of company stock valued at $146,443. 2.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Green Dot by 132.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,560 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 890 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Green Dot by 24.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,221 shares of the financial services provider’s stock worth $80,000 after buying an additional 437 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Green Dot by 15.6% during the 3rd quarter. First Mercantile Trust Co. now owns 3,188 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 431 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Green Dot during the 4th quarter worth about $139,000. Finally, TownSquare Capital LLC acquired a new stake in shares of Green Dot during the 3rd quarter worth about $238,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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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