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 Q3 2019 guidance to $0.02-0.02 EPS.

Shares of Green Dot stock traded up $0.91 during trading on Wednesday, reaching $47.26. The company’s stock had a trading volume of 826,966 shares, compared to its average volume of 719,415. The firm’s 50-day moving average price is $48.55. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.68 and a beta of 0.96. Green Dot has a 52 week low of $41.67 and a 52 week high of $93.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.04 and a current ratio of 1.04.

Green Dot (NYSE:GDOT) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.10. The company had revenue of $340.51 million during the quarter, compared to analysts’ expectations of $330.17 million. Green Dot had a net margin of 10.56% and a return on equity of 15.74%. Green Dot’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 earnings per share. On average, equities analysts forecast that Green Dot will post 2.09 EPS for the current year.

A number of equities research analysts have recently issued reports on GDOT shares. SunTrust Banks reduced their target price on shares of Green Dot to $70.00 and set a buy rating for the company in a research report on Thursday, May 9th. ValuEngine raised Green Dot from a sell rating to a hold rating in a research note on Thursday, August 1st. BTIG Research downgraded Green Dot from a buy rating to a neutral rating in a research note on Thursday, May 9th. Needham & Company LLC dropped their price target on Green Dot from $75.00 to $60.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Northland Securities reaffirmed a hold rating and issued a $58.00 price target on shares of Green Dot in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $81.85.

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

About Green Dot

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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