Green Dot Corporation (NYSE:GDOT) Updates FY17 Earnings Guidance
Green Dot Corporation (NYSE:GDOT) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.99-$2.03 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.95. The company issued revenue guidance of $855-$865 million, compared to the consensus revenue estimate of $843.77 million.Green Dot Corporation also updated its Q3 guidance to $0.25 EPS.
Shares of Green Dot Corporation (NYSE GDOT) traded up 1.38% during trading on Tuesday, hitting $40.35. The stock had a trading volume of 277,203 shares. The stock has a 50-day moving average price of $39.52 and a 200 day moving average price of $34.02. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $40.84. The company has a market cap of $2.01 billion, a P/E ratio of 41.47 and a beta of 1.06.
Green Dot Corporation (NYSE:GDOT) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $208.59 million. Green Dot Corporation had a return on equity of 10.11% and a net margin of 6.65%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Equities analysts expect that Green Dot Corporation will post $1.95 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on GDOT shares. Zacks Investment Research cut Green Dot Corporation from a buy rating to a hold rating in a research note on Thursday, May 4th. Citigroup Inc. upped their target price on Green Dot Corporation from $39.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, May 10th. Jefferies Group LLC reaffirmed a buy rating and set a $42.00 target price on shares of Green Dot Corporation in a research report on Monday, May 22nd. Lake Street Capital began coverage on Green Dot Corporation in a research report on Monday, June 26th. They set a hold rating and a $41.00 target price on the stock. Finally, Keefe, Bruyette & Woods set a $37.00 target price on Green Dot Corporation and gave the company a hold rating in a research report on Thursday, July 6th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $39.88.
In other news, CFO Mark L. Shifke sold 5,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $36.09, for a total value of $180,450.00. Following the transaction, the chief financial officer now directly owns 780,062 shares of the company’s stock, valued at $28,152,437.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John C. Ricci sold 72,248 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $36.21, for a total value of $2,616,100.08. Following the completion of the transaction, the general counsel now directly owns 158,594 shares in the company, valued at $5,742,688.74. The disclosure for this sale can be found here. Insiders sold 225,996 shares of company stock worth $8,357,963 over the last three months. 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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