GreenSky (GSKY) Posts Earnings Results, Beats Expectations By $0.08 EPS

GreenSky (NASDAQ:GSKY) posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08, Morningstar.com reports. GreenSky had a negative return on equity of 120.94% and a net margin of 6.27%. The firm had revenue of $103.70 million during the quarter, compared to analyst estimates of $103.46 million. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. GreenSky updated its FY 2019 guidance to $0.70-0.76 EPS.

Shares of NASDAQ:GSKY traded down $0.40 during mid-day trading on Friday, reaching $11.08. The company had a trading volume of 1,994,599 shares, compared to its average volume of 1,294,812. The stock has a market capitalization of $1.97 billion and a PE ratio of 158.29. GreenSky has a one year low of $8.30 and a one year high of $27.01.

In related news, Director Gregg Steven Freishtat sold 3,000 shares of GreenSky stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.06, for a total value of $48,180.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its position in GreenSky by 81.4% in the first quarter. BNP Paribas Arbitrage SA now owns 1,943 shares of the company’s stock worth $25,000 after acquiring an additional 872 shares in the last quarter. Advisor Group Inc. boosted its position in GreenSky by 140.1% during the fourth quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock valued at $34,000 after buying an additional 2,011 shares during the period. Cowen Prime Services LLC boosted its position in GreenSky by 100.0% during the first quarter. Cowen Prime Services LLC now owns 4,000 shares of the company’s stock valued at $52,000 after buying an additional 2,000 shares during the period. Sterling Investment Advisors Ltd. boosted its position in GreenSky by 100.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock valued at $52,000 after buying an additional 2,000 shares during the period. Finally, Royce & Associates LP purchased a new stake in GreenSky during the fourth quarter valued at about $55,000. 32.41% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on GSKY shares. Citigroup lifted their price objective on GreenSky from $14.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. SunTrust Banks raised their target price on GreenSky to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Guggenheim downgraded GreenSky from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.75 to $13.76 in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on GreenSky from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. GreenSky presently has an average rating of “Hold” and an average target price of $17.87.

ILLEGAL ACTIVITY WARNING: “GreenSky (GSKY) Posts Earnings Results, Beats Expectations By $0.08 EPS” was reported by Rockland Register and is owned by of Rockland Register. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://rocklandregister.com/2019/05/31/greensky-gsky-announces-quarterly-earnings-results-beats-estimates-by-0-08-eps.html.

GreenSky Company Profile

GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.

Read More: NASDAQ

Receive News & Ratings for GreenSky Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GreenSky and related companies with MarketBeat.com's FREE daily email newsletter.