Planet Payment, Inc. (PLPM) Expected to Announce Earnings of $0.03 Per Share
Analysts expect Planet Payment, Inc. (NASDAQ:PLPM) to post earnings per share of $0.03 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Planet Payment’s earnings. The highest EPS estimate is $0.04 and the lowest is $0.02. Planet Payment reported earnings of $0.02 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Planet Payment will report full year earnings of $0.16 per share for the current year, with EPS estimates ranging from $0.15 to $0.17. For the next year, analysts anticipate that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.18 to $0.28. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Planet Payment.
Planet Payment (NASDAQ:PLPM) last announced its quarterly earnings results on Tuesday, May 9th. The credit services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.76 million. Planet Payment had a return on equity of 28.86% and a net margin of 46.33%. Planet Payment’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS.
Separately, Zacks Investment Research downgraded shares of Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLPM. Acrospire Investment Management LLC increased its position in shares of Planet Payment by 36.6% in the first quarter. Acrospire Investment Management LLC now owns 25,128 shares of the credit services provider’s stock valued at $100,000 after buying an additional 6,733 shares during the last quarter. American International Group Inc. increased its position in shares of Planet Payment by 7.1% in the first quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,729 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Planet Payment during the second quarter valued at approximately $111,000. Rhumbline Advisers increased its position in shares of Planet Payment by 10.4% in the second quarter. Rhumbline Advisers now owns 45,355 shares of the credit services provider’s stock valued at $150,000 after buying an additional 4,280 shares during the last quarter. Finally, Bard Associates Inc. increased its position in shares of Planet Payment by 13.9% in the first quarter. Bard Associates Inc. now owns 45,050 shares of the credit services provider’s stock valued at $179,000 after buying an additional 5,500 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Planet Payment (NASDAQ:PLPM) traded down 3.06% during trading on Friday, reaching $3.17. The company’s stock had a trading volume of 95,516 shares. Planet Payment has a 12 month low of $2.75 and a 12 month high of $4.64. The firm has a market cap of $155.07 million, a PE ratio of 7.19 and a beta of 0.66. The stock’s 50 day moving average price is $3.36 and its 200-day moving average price is $3.83.
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Planet Payment Company Profile
Planet Payment, Inc is a provider of international payment and transaction processing and multi-currency processing services. The Company operates through two segments: multi-currency processing services and payment processing services. Its multi-currency processing services segment includes Pay In Your Currency, Multi-Currency Pricing and Dynamic Currency Conversion at automated teller machines, enable merchants to offer customized pricing in multiple currencies.
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