Green Dot (NYSE:GDOT) Updates FY 2019 Earnings Guidance

Green Dot (NYSE:GDOT) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.71-2.77 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.87. The company issued revenue guidance of $1.06-1.08 billion, compared to the consensus revenue estimate of $1.14 billion.Green Dot also updated its FY19 guidance to $2.71-2.77 EPS.

Green Dot stock traded up $2.40 during mid-day trading on Friday, hitting $29.82. The company’s stock had a trading volume of 3,554,359 shares, compared to its average volume of 572,779. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 11.79 and a beta of 0.96. Green Dot has a 1 year low of $24.19 and a 1 year high of $93.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $47.77.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.33. The company had revenue of $278.33 million during the quarter, compared to analyst estimates of $266.93 million. Green Dot had a return on equity of 16.75% and a net margin of 10.81%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, analysts predict that Green Dot will post 2.09 earnings per share for the current fiscal year.

Several research analysts recently weighed in on GDOT shares. Keefe, Bruyette & Woods lowered Green Dot from an outperform rating to a market perform rating and lowered their price objective for the stock from $60.00 to $35.00 in a research report on Thursday. Loop Capital reiterated a buy rating and issued a $75.00 price objective on shares of Green Dot in a research report on Thursday, May 9th. Zacks Investment Research upgraded Green Dot from a hold rating to a buy rating and set a $52.00 price objective for the company in a research report on Tuesday, July 9th. Northland Securities lowered their price objective on Green Dot from $58.00 to $35.00 and set a market perform rating for the company in a research report on Thursday. Finally, Guggenheim upgraded Green Dot from a neutral rating to a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $60.91.

In other news, CRO Brett Narlinger sold 5,532 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $48.87, for a total value of $270,348.84. Following the sale, the executive now directly owns 81,554 shares in the company, valued at $3,985,543.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Konrad Alt sold 919 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $41.91, for a total value of $38,515.29. Following the completion of the sale, the insider now owns 76,724 shares in the company, valued at $3,215,502.84. The disclosure for this sale can be found here. Insiders have sold 13,238 shares of company stock worth $630,772 over the last 90 days. 7.80% of the stock is owned by insiders.

Green Dot Company Profile

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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Earnings History and Estimates for Green Dot (NYSE:GDOT)

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