Brokerages expect Planet Payment, Inc. (NASDAQ:PLPM) to announce $0.05 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Planet Payment’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Planet Payment posted earnings of $0.04 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Planet Payment will report full-year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.18. For the next fiscal year, analysts forecast that the company will report earnings of $0.21 per share, with EPS estimates ranging from $0.17 to $0.27. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Planet Payment.
Planet Payment (NASDAQ:PLPM) last announced its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $13.56 million. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year.
A number of analysts recently commented on the company. Northland Securities lowered Planet Payment to a “hold” rating and set a $4.50 target price for the company. in a research report on Sunday, October 29th. Zacks Investment Research lowered Planet Payment from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Barrington Research lowered Planet Payment from an “outperform” rating to an “underperform” rating in a research report on Friday, October 27th. Craig Hallum lowered Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Lake Street Capital lowered Planet Payment from a “buy” rating to a “hold” rating and decreased their target price for the company from $5.00 to $4.50 in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.67.
Institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. bought a new stake in Planet Payment during the 2nd quarter worth approximately $102,000. Citigroup Inc. increased its holdings in Planet Payment by 3,421.0% during the 2nd quarter. Citigroup Inc. now owns 30,879 shares of the credit services provider’s stock worth $102,000 after purchasing an additional 30,002 shares in the last quarter. American International Group Inc. increased its holdings in Planet Payment by 7.1% during the 1st quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,729 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in Planet Payment during the 2nd quarter worth approximately $111,000. Finally, Connors Investor Services Inc. bought a new stake in Planet Payment during the 2nd quarter worth approximately $132,000. 47.26% of the stock is owned by institutional investors and hedge funds.
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Planet Payment (PLPM) opened at $4.47 on Tuesday. The company has a market cap of $223.48, a PE ratio of 26.29 and a beta of 0.63.
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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