Green Dot Co. (GDOT) Expected to Post Quarterly Sales of $331.59 Million

Equities analysts predict that Green Dot Co. (NYSE:GDOT) will report $331.59 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Green Dot’s earnings, with the highest sales estimate coming in at $344.46 million and the lowest estimate coming in at $322.31 million. Green Dot posted sales of $315.00 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The business is expected to report its next quarterly earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Green Dot will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.18 billion. For the next year, analysts expect that the firm will post sales of $1.22 billion, with estimates ranging from $1.20 billion to $1.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Green Dot.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Wednesday, February 20th. The financial services provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.25. The business had revenue of $237.83 million for the quarter, compared to the consensus estimate of $235.80 million. Green Dot had a return on equity of 15.88% and a net margin of 11.39%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.

A number of research firms have recently commented on GDOT. Zacks Investment Research raised Green Dot from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Thursday, January 24th. SunTrust Banks decreased their price objective on Green Dot to $90.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Keefe, Bruyette & Woods raised Green Dot from a “market perform” rating to an “outperform” rating in a research note on Monday, April 1st. Finally, ValuEngine downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $92.25.

NYSE:GDOT traded up $0.08 on Monday, reaching $61.99. The company’s stock had a trading volume of 417,217 shares, compared to its average volume of 820,574. Green Dot has a 1-year low of $56.23 and a 1-year high of $93.00. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 24.50 and a beta of 0.75.

In other news, CRO Brett Narlinger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $67.63, for a total transaction of $338,150.00. Following the completion of the transaction, the executive now directly owns 84,282 shares of the company’s stock, valued at approximately $5,699,991.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven W. Streit sold 7,701 shares of Green Dot stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $57.89, for a total transaction of $445,810.89. Following the completion of the sale, the chief executive officer now owns 69,313 shares in the company, valued at $4,012,529.57. The disclosure for this sale can be found here. Insiders sold a total of 123,243 shares of company stock worth $7,969,192 in the last three months. Company insiders own 9.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Ffcm LLC acquired a new stake in shares of Green Dot in the 4th quarter valued at approximately $27,000. Legacy Financial Advisors Inc. bought a new stake in Green Dot during the fourth quarter worth $29,000. Pearl River Capital LLC bought a new stake in Green Dot during the fourth quarter worth $40,000. Ipswich Investment Management Co. Inc. bought a new stake in Green Dot during the fourth quarter worth $70,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Green Dot in the third quarter valued at $161,000. 88.17% of the stock is currently owned by institutional investors and hedge funds.

Green Dot Company Profile

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.

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