Points International (NASDAQ:PCOM) Announces Stock Buyback Program
Points International (NASDAQ:PCOM) (TSE:PTS) announced that its Board of Directors has authorized a share repurchase plan, which authorizes the company to repurchase 740,000 outstanding shares on Wednesday, August 9th, EventVestor reports. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have weighed in on PCOM shares. TheStreet cut Points International from a “c-” rating to a “d” rating in a research report on Thursday, April 13th. B. Riley reiterated a “buy” rating and issued a $11.00 price target on shares of Points International in a research report on Monday, May 1st. Royal Bank Of Canada upped their price target on Points International from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Points International from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research report on Saturday, May 6th. Finally, ValuEngine upgraded Points International from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Points International currently has an average rating of “Buy” and a consensus target price of $13.00.
Shares of Points International (NASDAQ:PCOM) traded up 2.13% during mid-day trading on Thursday, hitting $8.15. The stock had a trading volume of 27,755 shares. The stock has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.36. The firm’s market cap is $120.59 million. Points International has a 52 week low of $6.28 and a 52 week high of $10.79.
Points International (NASDAQ:PCOM) (TSE:PTS) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Points International had a positive return on equity of 7.94% and a negative net margin of 0.47%. The company had revenue of $85.77 million during the quarter, compared to analysts’ expectations of $79.84 million. Equities research analysts expect that Points International will post $0.30 EPS for the current fiscal year.
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Points International Company Profile
Points International Ltd. (Points) provides a range of e-commerce and technology services to loyalty program operators using a common infrastructure. These services include a range of white label or private branded e-commerce services (Loyalty Currency Services) that enable the sale of loyalty currencies (such as frequent flyer miles, hotel points and credit card points), both retail and wholesale, and support the loyalty program consumer offerings and their back end operations.
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