Green Dot Co. (GDOT) Issues Q2 Earnings Guidance

Green Dot Co. (NYSE:GDOT) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of approx. $0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.46. The company issued revenue guidance of $207-209 million, compared to the consensus revenue estimate of $205.95 million.Green Dot also updated its FY17 guidance to $1.89-1.94 EPS.

Green Dot Co. (NYSE:GDOT) traded up 0.03% during mid-day trading on Friday, reaching $35.75. The company’s stock had a trading volume of 388,999 shares. Green Dot Co. has a 52-week low of $20.79 and a 52-week high of $38.34. The company has a 50 day moving average of $34.23 and a 200-day moving average of $28.40. The stock has a market cap of $1.78 billion, a PE ratio of 36.74 and a beta of 1.18.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $253 million during the quarter, compared to the consensus estimate of $233.49 million. Green Dot had a net margin of 5.22% and a return on equity of 7.76%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts forecast that Green Dot Co. will post $1.95 earnings per share for the current year.

GDOT has been the subject of several recent analyst reports. SunTrust Banks, Inc. raised shares of Green Dot from a hold rating to a buy rating and set a $40.00 price objective for the company in a research note on Tuesday, March 14th. Citigroup Inc boosted their price target on shares of Green Dot to $32.00 in a research report on Thursday, February 23rd. Zacks Investment Research cut shares of Green Dot from a hold rating to a sell rating in a research report on Tuesday. Loop Capital restated a buy rating and issued a $41.00 price objective (up previously from $33.00) on shares of Green Dot in a report on Thursday, March 16th. Finally, TheStreet upgraded shares of Green Dot from a c+ rating to a b- rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Green Dot currently has an average rating of Hold and a consensus target price of $31.20.

In related news, General Counsel John C. Ricci sold 30,709 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $36.16, for a total transaction of $1,110,437.44. Following the transaction, the general counsel now owns 115,997 shares in the company, valued at $4,194,451.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark L. Shifke sold 5,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $30.27, for a total transaction of $151,350.00. Following the transaction, the chief financial officer now owns 790,062 shares in the company, valued at approximately $23,915,176.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,208 shares of company stock worth $4,194,034. 11.00% of the stock is owned by insiders.

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Green Dot Company Profile

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.

12 Month Chart for NYSE:GDOT

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