Planet Payment, Inc. (NASDAQ:PLPM) Expected to Post Quarterly Sales of $13.40 Million
Equities research analysts expect that Planet Payment, Inc. (NASDAQ:PLPM) will report $13.40 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Planet Payment’s earnings. The lowest sales estimate is $13.08 million and the highest is $13.60 million. Planet Payment reported sales of $13.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The business is scheduled to issue its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Planet Payment will report full-year sales of $13.40 million for the current fiscal year, with estimates ranging from $60.08 million to $60.10 million. For the next financial year, analysts anticipate that the firm will report sales of $66.65 million per share, with estimates ranging from $65.71 million to $67.14 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Planet Payment.
Planet Payment (NASDAQ:PLPM) last posted its quarterly earnings data on Tuesday, May 9th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. Planet Payment had a net margin of 46.33% and a return on equity of 28.86%. The business had revenue of $12.73 million during the quarter, compared to analyst estimates of $13.76 million. During the same quarter last year, the business earned $0.03 earnings per share. Planet Payment’s revenue for the quarter was down 6.9% on a year-over-year basis.
Separately, Zacks Investment Research cut Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th.
Planet Payment (NASDAQ:PLPM) traded up 3.83% during mid-day trading on Friday, hitting $3.52. 254,495 shares of the stock were exchanged. Planet Payment has a 1-year low of $2.75 and a 1-year high of $4.97. The stock has a 50 day moving average price of $3.52 and a 200 day moving average price of $3.97. The company has a market capitalization of $172.19 million, a PE ratio of 7.98 and a beta of 0.66.
A number of large investors have recently added to or reduced their stakes in PLPM. S Squared Technology LLC bought a new stake in Planet Payment during the first quarter worth approximately $4,061,000. Russell Investments Group Ltd. bought a new stake in Planet Payment during the fourth quarter worth approximately $1,398,000. Isthmus Partners LLC bought a new stake in Planet Payment during the first quarter worth approximately $886,000. Ativo Capital Management LLC bought a new stake in Planet Payment during the first quarter worth approximately $796,000. Finally, Geneva Advisors LLC bought a new stake in Planet Payment during the first quarter worth approximately $559,000. 53.80% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Planet Payment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Payment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.