Brokerages expect Planet Payment, Inc. (NASDAQ:PLPM) to post $13.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Planet Payment’s earnings, with estimates ranging from $13.08 million to $13.60 million. Planet Payment posted sales of $13.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, August 9th.

On average, analysts expect that Planet Payment will report full-year sales of $13.40 million for the current year, with estimates ranging from $60.08 million to $60.10 million. For the next fiscal year, analysts forecast 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 calculations are a mean average based on a survey of research analysts that follow Planet Payment.

Planet Payment (NASDAQ:PLPM) last released its earnings results 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 46.33% and a return on equity of 28.86%. The business had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.76 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis.

Separately, Zacks Investment Research cut shares of Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted 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 worth $100,000 after buying an additional 6,733 shares in the last quarter. American International Group Inc. boosted 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 worth $104,000 after buying an additional 1,729 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Planet Payment during the second quarter worth about $111,000. Rhumbline Advisers boosted 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 worth $150,000 after buying an additional 4,280 shares in the last quarter. Finally, Bard Associates Inc. boosted 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 worth $179,000 after buying an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Shares of Planet Payment (NASDAQ PLPM) opened at 3.25 on Monday. The firm has a market capitalization of $158.98 million, a price-to-earnings ratio of 7.37 and a beta of 0.66. The company’s 50-day moving average is $3.39 and its 200 day moving average is $3.85. Planet Payment has a 1-year low of $2.75 and a 1-year high of $4.70.

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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Earnings History and Estimates for Planet Payment (NASDAQ:PLPM)

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