Planet Payment, Inc. (PLPM) to Release Quarterly Earnings on Tuesday
Planet Payment, Inc. (NASDAQ:PLPM) will announce its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Planet Payment has set its FY17 guidance at $0.16-0.18 EPS.
Planet Payment (NASDAQ:PLPM) last posted its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $13.56 million. Planet Payment had a net margin of 48.14% and a return on equity of 25.86%. Planet Payment’s revenue was down 4.6% on a year-over-year basis. On average, analysts expect Planet Payment to post $0.16 EPS for the current fiscal year and $0.21 EPS for the next fiscal year.
Planet Payment, Inc. (PLPM) traded down 0.25% during midday trading on Tuesday, hitting $4.00. 18,914 shares of the stock traded hands. The stock’s 50-day moving average price is $4.20 and its 200-day moving average price is $3.79. Planet Payment, Inc. has a 52 week low of $2.75 and a 52 week high of $4.64. The stock has a market capitalization of $196.95 million, a P/E ratio of 8.81 and a beta of 0.62.
A hedge fund recently raised its stake in Planet Payment stock. State Street Corp increased its holdings in Planet Payment, Inc. (NASDAQ:PLPM) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,623 shares of the credit services provider’s stock after acquiring an additional 38,809 shares during the quarter. State Street Corp owned about 1.24% of Planet Payment worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 50.64% of the company’s stock.
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Several research analysts recently issued reports on PLPM shares. Zacks Investment Research upgraded shares of Planet Payment from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Northland Securities reiterated a “buy” rating and issued a $4.50 price target on shares of Planet Payment in a research note on Thursday, October 12th.
About Planet Payment
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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