Zacks: Analysts Anticipate Green Dot Co. (GDOT) to Announce $1.32 Earnings Per Share

Brokerages predict that Green Dot Co. (NYSE:GDOT) will post $1.32 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Green Dot’s earnings. The lowest EPS estimate is $1.23 and the highest is $1.42. Green Dot reported earnings per share of $1.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that Green Dot will report full-year earnings of $2.87 per share for the current financial year, with EPS estimates ranging from $2.84 to $2.88. For the next year, analysts expect that the business will report earnings of $3.26 per share, with EPS estimates ranging from $3.21 to $3.32. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Green Dot.

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Green Dot (NYSE:GDOT) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $212.99 million during the quarter, compared to analysts’ expectations of $206.07 million. Green Dot had a return on equity of 12.32% and a net margin of 9.65%. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share.

A number of equities research analysts have recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Green Dot in a research note on Monday, February 12th. Citigroup lifted their price objective on Green Dot from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Zacks Investment Research cut Green Dot from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine raised Green Dot from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Green Dot in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Green Dot has an average rating of “Buy” and an average price target of $63.29.

GDOT stock traded up $0.49 during midday trading on Thursday, hitting $63.19. 291,928 shares of the company’s stock were exchanged, compared to its average volume of 359,083. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3,197.25, a price-to-earnings ratio of 39.68 and a beta of 0.73. Green Dot has a 1-year low of $33.10 and a 1-year high of $69.37.

In related news, CEO Steven W. Streit sold 6,830 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $56.48, for a total transaction of $385,758.40. Following the completion of the transaction, the chief executive officer now directly owns 176,621 shares of the company’s stock, valued at approximately $9,975,554.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark L. Shifke sold 6,500 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $68.09, for a total value of $442,585.00. Following the transaction, the chief financial officer now directly owns 688,013 shares of the company’s stock, valued at $46,846,805.17. The disclosure for this sale can be found here. Insiders have sold a total of 319,593 shares of company stock valued at $20,028,173 over the last three months. 11.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDOT. New York State Common Retirement Fund grew its stake in Green Dot by 33.4% during the 3rd quarter. New York State Common Retirement Fund now owns 102,662 shares of the financial services provider’s stock worth $5,090,000 after purchasing an additional 25,725 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Green Dot by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 287,342 shares of the financial services provider’s stock worth $14,247,000 after buying an additional 47,203 shares during the last quarter. American International Group Inc. lifted its holdings in Green Dot by 6.4% during the 3rd quarter. American International Group Inc. now owns 36,167 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,180 shares during the last quarter. Legal & General Group Plc lifted its holdings in Green Dot by 5.2% during the 3rd quarter. Legal & General Group Plc now owns 89,352 shares of the financial services provider’s stock worth $4,431,000 after buying an additional 4,454 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Green Dot by 5.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 199,315 shares of the financial services provider’s stock worth $9,883,000 after buying an additional 10,289 shares during the last quarter. 82.04% of the stock is owned by hedge funds and other institutional investors.

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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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