Planet Payment, Inc. (PLPM) Releases Earnings Results, Beats Estimates By $0.01 EPS
Planet Payment, Inc. (NASDAQ:PLPM) announced its quarterly earnings data on Wednesday. The credit services provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01, MarketWatch Earnings reports. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.56 million. Planet Payment had a return on equity of 28.86% and a net margin of 46.33%. Planet Payment’s quarterly revenue was down 4.6% compared to the same quarter last year. Planet Payment updated its FY17 guidance to $0.16-0.18 EPS.
Shares of Planet Payment (NASDAQ:PLPM) traded up 0.15% on Thursday, hitting $3.35. The stock had a trading volume of 13,481 shares. The company has a market cap of $163.87 million, a price-to-earnings ratio of 7.60 and a beta of 0.66. Planet Payment has a 12-month low of $2.75 and a 12-month high of $4.64. The stock has a 50 day moving average price of $3.36 and a 200-day moving average price of $3.81.
Several hedge funds have recently bought and sold shares of PLPM. S Squared Technology LLC purchased a new stake in Planet Payment during the first quarter worth approximately $4,061,000. Boston Partners purchased a new stake in Planet Payment during the second quarter worth approximately $955,000. Isthmus Partners LLC purchased a new stake in Planet Payment during the first quarter worth approximately $886,000. Ativo Capital Management LLC purchased a new stake in Planet Payment during the first quarter worth approximately $796,000. Finally, Bridge City Capital LLC purchased a new stake in Planet Payment during the second quarter worth approximately $506,000. Institutional investors and hedge funds own 53.16% of the company’s stock.
Separately, Zacks Investment Research lowered Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.