Green Dot (NYSE:GDOT) Announces Quarterly Earnings Results

Green Dot (NYSE:GDOT) issued its earnings results on Thursday. The financial services provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.32, reports. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The business had revenue of $240.40 million during the quarter, compared to analysts’ expectations of $232.94 million. During the same period in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Green Dot updated its FY19 guidance to $2.71-2.77 EPS.

Shares of NYSE GDOT traded down $5.41 during mid-day trading on Friday, reaching $24.54. 3,352,879 shares of the company were exchanged, compared to its average volume of 791,148. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 9.70 and a beta of 1.11. Green Dot has a 1 year low of $22.45 and a 1 year high of $92.87. The firm has a 50-day moving average of $25.66 and a 200 day moving average of $40.05.

In related news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.32, for a total transaction of $158,648.64. Following the completion of the sale, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.80% of the company’s stock.

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GDOT has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Green Dot in a report on Friday. Guggenheim upgraded Green Dot from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Northland Securities reiterated a “buy” rating and issued a $35.00 target price on shares of Green Dot in a report on Tuesday, October 29th. TheStreet cut Green Dot from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity initiated coverage on Green Dot in a report on Thursday, September 12th. They issued a “hold” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Green Dot has an average rating of “Hold” and a consensus target price of $42.83.

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 for Green Dot (NYSE:GDOT)

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