Planet Payment, Inc. (PLPM) Expected to Post Earnings of $0.05 Per Share
Equities analysts expect Planet Payment, Inc. (NASDAQ:PLPM) to report $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Planet Payment’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. Planet Payment reported earnings of $0.04 per share during the same quarter last year, which would indicate a positive year over year growth rate of 25%. The business is expected to issue its next earnings report on Wednesday, November 15th.
On average, analysts expect that Planet Payment will report full year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.18. For the next year, analysts expect that the firm will post earnings of $0.21 per share, with EPS estimates ranging from $0.17 to $0.27. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Planet Payment.
Planet Payment (NASDAQ:PLPM) last announced its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.56 million. Planet Payment’s revenue was down 4.6% compared to the same quarter last year.
A number of analysts have recently commented on PLPM shares. Northland Securities reissued a “buy” rating and set a $4.50 price target on shares of Planet Payment in a research note on Thursday, October 12th. Zacks Investment Research raised Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Tuesday, October 31st. Lake Street Capital downgraded Planet Payment from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.00 to $4.50 in a research report on Friday, October 27th. Craig Hallum downgraded Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Barrington Research downgraded Planet Payment from an “outperform” rating to an “underperform” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.67.
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Institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. raised its position in shares of Planet Payment by 7.1% during the first quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,729 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Planet Payment during the second quarter worth about $102,000. Citigroup Inc. raised its position in shares of Planet Payment by 3,421.0% during the second quarter. Citigroup Inc. now owns 30,879 shares of the credit services provider’s stock worth $102,000 after acquiring an additional 30,002 shares during the last quarter. SpiderRock Advisors LLC bought a new position in shares of Planet Payment during the second quarter worth about $111,000. Finally, Connors Investor Services Inc. bought a new position in shares of Planet Payment during the second quarter worth about $132,000. Institutional investors own 47.26% of the company’s stock.
Shares of Planet Payment (NASDAQ:PLPM) remained flat at $$4.48 during mid-day trading on Tuesday. 89,979 shares of the stock traded hands, compared to its average volume of 1,190,000. Planet Payment has a 1 year low of $3.10 and a 1 year high of $4.64. The stock has a market capitalization of $223.50, a price-to-earnings ratio of 26.29 and a beta of 0.61.
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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