Nomura Securities Uses Ginsu on Green Dot (GDOT); Slicing Price Target and Estimates
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Price: $19.39 +0.94%
Rating Summary:
7 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
7 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade GDOT Now!
Nomura Securities maintains a 'Neutral' on Green Dot (NYSE: GDOT) price target of $15.00 (from $22.00).
Analyst, Bill Carcache, said, "Green Dot reported 2Q12 adjusted EPS of $0.35, versus our / consensus estimates of $0.37 / $0.38. Management cut its 2012 EPS forecast by a steep 22% from its previous outlook. Our 2012 / 2013 / 2014 EPS estimates go to $1.32 / $1.51 / $1.89, from $1.70 / $2.06 / $2.56, respectively. We’re also lowering our price target to reflect increased concerns around the loss of exclusive contracts at key distributors. Given the increased uncertainty surrounding the long-term earnings trajectory and terminal value for the company, we believe a lower multiple is warranted at this time."
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $23.32 yesterday, with a 52 week range of $19.93-$36.59.
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Analyst, Bill Carcache, said, "Green Dot reported 2Q12 adjusted EPS of $0.35, versus our / consensus estimates of $0.37 / $0.38. Management cut its 2012 EPS forecast by a steep 22% from its previous outlook. Our 2012 / 2013 / 2014 EPS estimates go to $1.32 / $1.51 / $1.89, from $1.70 / $2.06 / $2.56, respectively. We’re also lowering our price target to reflect increased concerns around the loss of exclusive contracts at key distributors. Given the increased uncertainty surrounding the long-term earnings trajectory and terminal value for the company, we believe a lower multiple is warranted at this time."
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $23.32 yesterday, with a 52 week range of $19.93-$36.59.
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