$13.4 Million in Sales Expected for Planet Payment Inc (PLPM) This Quarter
Wall Street analysts predict that Planet Payment Inc (NASDAQ:PLPM) will post $13.4 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Planet Payment’s earnings. The highest sales estimate is $13.6 million and the lowest is $13.08 million. Planet Payment posted sales of $13.1 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.3%. The firm is scheduled to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Planet Payment will report full year sales of $13.4 million for the current year, with estimates ranging from $60.08 million to $60.1 million. For the next year, analysts forecast that the company will post sales of $66.65 million per share, with estimates ranging from $65.71 million to $67.14 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Planet Payment.
Planet Payment (NASDAQ:PLPM) last announced its quarterly earnings data on Tuesday, May 9th. The credit services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Planet Payment had a net margin of 21.40% and a return on equity of 30.50%. The business had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.76 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Saturday, March 11th.
Shares of Planet Payment (NASDAQ:PLPM) traded up 1.72% during mid-day trading on Friday, reaching $3.55. 56,711 shares of the company’s stock traded hands. The firm has a market cap of $173.66 million, a price-to-earnings ratio of 8.05 and a beta of 0.70. Planet Payment has a one year low of $2.75 and a one year high of $4.97. The firm’s 50-day moving average is $4.02 and its 200 day moving average is $4.08.
A number of hedge funds have recently bought and sold shares of PLPM. Acrospire Investment Management LLC boosted its stake in 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 worth $100,000 after buying an additional 6,733 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Planet Payment during the third quarter worth approximately $101,000. American International Group Inc. boosted its stake in 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 worth $104,000 after buying an additional 1,729 shares in the last quarter. Brown Advisory Inc. boosted its stake in Planet Payment by 61.8% in the fourth quarter. Brown Advisory Inc. now owns 27,500 shares of the credit services provider’s stock worth $112,000 after buying an additional 10,500 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in Planet Payment during the fourth quarter worth approximately $161,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.
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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