Zacks: Brokerages Expect Green Dot Co. (GDOT) Will Announce Quarterly Sales of $222.90 Million

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Wall Street brokerages forecast that Green Dot Co. (NYSE:GDOT) will report $222.90 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Green Dot’s earnings, with the highest sales estimate coming in at $225.82 million and the lowest estimate coming in at $221.20 million. Green Dot posted sales of $201.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The company is expected to report its next earnings results on Tuesday, November 6th.

On average, analysts expect that Green Dot will report full year sales of $1.03 billion for the current year, with estimates ranging from $1.03 billion to $1.04 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.13 billion per share, with estimates ranging from $1.09 billion to $1.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Green Dot.

Green Dot (NYSE:GDOT) last released its earnings results on Wednesday, August 8th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The business had revenue of $258.30 million for the quarter, compared to the consensus estimate of $250.18 million. Green Dot had a net margin of 12.73% and a return on equity of 14.26%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share.

GDOT has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Green Dot from a “buy” rating to a “sell” rating in a research report on Tuesday, April 24th. BTIG Research downgraded shares of Green Dot from a “buy” rating to a “neutral” rating in a research report on Monday, June 18th. They noted that the move was a valuation call. Craig Hallum reaffirmed a “buy” rating and set a $95.00 price objective on shares of Green Dot in a research report on Tuesday, July 17th. Jefferies Financial Group started coverage on shares of Green Dot in a research report on Tuesday, July 10th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Green Dot from $67.00 to $73.00 and gave the company a “$81.43” rating in a research report on Thursday, July 19th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Green Dot currently has an average rating of “Buy” and a consensus target price of $79.00.

Green Dot stock opened at $83.61 on Monday. The company has a market capitalization of $4.33 billion, a PE ratio of 52.92 and a beta of 0.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. Green Dot has a fifty-two week low of $44.88 and a fifty-two week high of $85.69.

In other Green Dot news, CAO Jess Unruh sold 31,043 shares of Green Dot stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $71.42, for a total value of $2,217,091.06. Following the completion of the sale, the chief accounting officer now directly owns 137,542 shares in the company, valued at $9,823,249.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Streit sold 28,828 shares of Green Dot stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $82.95, for a total transaction of $2,391,282.60. Following the completion of the sale, the insider now owns 47,740 shares of the company’s stock, valued at $3,960,033. The disclosure for this sale can be found here. Insiders have sold 380,039 shares of company stock worth $28,915,437 over the last ninety days. 11.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GDOT. BlackRock Inc. lifted its stake in Green Dot by 9.1% in the second quarter. BlackRock Inc. now owns 7,231,132 shares of the financial services provider’s stock valued at $530,692,000 after acquiring an additional 601,340 shares during the last quarter. FMR LLC lifted its stake in Green Dot by 284.0% in the second quarter. FMR LLC now owns 409,600 shares of the financial services provider’s stock valued at $30,061,000 after acquiring an additional 302,936 shares during the last quarter. Columbus Circle Investors lifted its stake in Green Dot by 352.7% in the first quarter. Columbus Circle Investors now owns 286,400 shares of the financial services provider’s stock valued at $18,375,000 after acquiring an additional 223,138 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Green Dot by 1,422.6% in the second quarter. BNP Paribas Arbitrage SA now owns 228,384 shares of the financial services provider’s stock valued at $16,761,000 after acquiring an additional 213,384 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Green Dot by 46.9% in the first quarter. Stephens Investment Management Group LLC now owns 562,270 shares of the financial services provider’s stock valued at $36,075,000 after acquiring an additional 179,388 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.

About Green Dot

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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