Green Dot Corporation (GDOT) Updates Q3 Earnings Guidance
Green Dot Corporation (NYSE:GDOT) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. The company issued revenue guidance of $187-$189 million, compared to the consensus revenue estimate of $186.29 million.Green Dot Corporation also updated its FY17 guidance to $1.99-$2.03 EPS.
Green Dot Corporation (NYSE GDOT) traded up 1.38% during midday trading on Tuesday, hitting $40.35. 277,198 shares of the stock traded hands. The firm has a market cap of $2.01 billion, a PE ratio of 41.47 and a beta of 1.06. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $40.84. The company’s 50 day moving average price is $39.51 and its 200 day moving average price is $33.90.
Green Dot Corporation (NYSE:GDOT) last announced its earnings results on Tuesday, May 9th. The financial services provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.14. Green Dot Corporation had a return on equity of 10.11% and a net margin of 6.65%. The business had revenue of $253 million during the quarter, compared to the consensus estimate of $233.49 million. During the same period in the prior year, the company posted $0.78 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts predict that Green Dot Corporation will post $1.95 earnings per share for the current fiscal year.
Several research firms recently commented on GDOT. Citigroup Inc. increased their price objective on Green Dot Corporation from $39.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, May 10th. Zacks Investment Research downgraded Green Dot Corporation from a buy rating to a hold rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods set a $37.00 price objective on Green Dot Corporation and gave the company a hold rating in a research note on Thursday, July 6th. Lake Street Capital began coverage on Green Dot Corporation in a research note on Monday, June 26th. They issued a hold rating and a $41.00 price objective for the company. Finally, BidaskClub downgraded Green Dot Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $39.88.
In other Green Dot Corporation news, General Counsel John C. Ricci sold 30,709 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $36.16, for a total value of $1,110,437.44. Following the completion of the sale, the general counsel now directly owns 115,997 shares of the company’s stock, valued at approximately $4,194,451.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark L. Shifke sold 5,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $36.09, for a total value of $180,450.00. Following the completion of the sale, the chief financial officer now directly owns 780,062 shares of the company’s stock, valued at $28,152,437.58. The disclosure for this sale can be found here. Insiders sold a total of 225,996 shares of company stock valued at $8,357,963 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.
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About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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