Planet Payment, Inc. (PLPM) Expected to Post Earnings of $0.05 Per Share

Wall Street brokerages predict that Planet Payment, Inc. (NASDAQ:PLPM) will announce earnings per share (EPS) of $0.05 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Planet Payment’s earnings, with estimates ranging from $0.04 to $0.06. Planet Payment reported earnings per share of $0.04 during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The firm is scheduled to report its next quarterly earnings results on Wednesday, December 13th.

According to Zacks, analysts expect that Planet Payment will report full year earnings of $0.17 per share for the current financial year, with EPS estimates ranging from $0.16 to $0.18. For the next financial year, analysts forecast that the business will report earnings of $0.21 per share, with EPS estimates ranging from $0.17 to $0.27. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Planet Payment.

PLPM has been the topic of several analyst reports. Zacks Investment Research raised shares of Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, October 31st. Lake Street Capital downgraded shares of Planet Payment from a “buy” rating to a “hold” rating and lowered their target price for the stock from $5.00 to $4.50 in a research report on Friday, October 27th. Craig Hallum downgraded shares of Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Northland Securities reissued a “buy” rating and set a $4.50 target price on shares of Planet Payment in a research report on Thursday, October 12th. Finally, Barrington Research downgraded shares of 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. The company currently has a consensus rating of “Hold” and an average target price of $4.67.

Shares of Planet Payment (NASDAQ PLPM) opened at $4.50 on Thursday. The stock has a market capitalization of $225.05, a price-to-earnings ratio of 26.47 and a beta of 0.62. Planet Payment has a 1-year low of $3.10 and a 1-year high of $4.50.

Several large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC grew its position in shares of Planet Payment by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 127,567 shares of the credit services provider’s stock valued at $508,000 after purchasing an additional 900 shares during the last quarter. Rhumbline Advisers grew 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 valued at $150,000 after purchasing an additional 4,280 shares during the last quarter. Northern Trust Corp grew its position in shares of Planet Payment by 1.9% in the second quarter. Northern Trust Corp now owns 463,164 shares of the credit services provider’s stock valued at $1,529,000 after purchasing an additional 8,762 shares during the last quarter. Strs Ohio grew its position in shares of Planet Payment by 6.1% in the second quarter. Strs Ohio now owns 164,600 shares of the credit services provider’s stock valued at $543,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Planet Payment by 3.6% in the first quarter. Geode Capital Management LLC now owns 315,222 shares of the credit services provider’s stock valued at $1,254,000 after purchasing an additional 10,900 shares during the last quarter. 53.02% of the stock is currently owned by institutional investors.

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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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