Planet Payment Inc (PLPM) Releases Earnings Results, Misses Estimates By $0.01 EPS

Planet Payment Inc (NASDAQ:PLPM) posted its earnings results on Tuesday. The credit services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. Planet Payment had a return on equity of 30.50% and a net margin of 21.40%. The company had revenue of $12.73 million during the quarter, compared to the consensus estimate of $13.76 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Planet Payment updated its FY17 guidance to $0.16-0.18 EPS.

Planet Payment (NASDAQ:PLPM) traded down 3.67% during midday trading on Friday, reaching $3.67. 145,871 shares of the company’s stock were exchanged. The stock has a market capitalization of $179.53 million, a price-to-earnings ratio of 8.32 and a beta of 0.70. The stock’s 50-day moving average is $4.07 and its 200-day moving average is $4.07. Planet Payment has a 12-month low of $2.75 and a 12-month high of $4.97.

Earnings History for Planet Payment (NASDAQ:PLPM)

Separately, Zacks Investment Research raised shares of Planet Payment from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Saturday, March 11th.

A number of large investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in 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 buying an additional 900 shares during the period. American International Group Inc. raised its stake in 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 valued at $104,000 after buying an additional 1,729 shares during the period. Stanley Laman Group Ltd. raised its stake in Planet Payment by 6.1% in the third quarter. Stanley Laman Group Ltd. now owns 41,509 shares of the credit services provider’s stock valued at $154,000 after buying an additional 2,400 shares during the period. Bank of New York Mellon Corp raised its stake in Planet Payment by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 134,519 shares of the credit services provider’s stock valued at $536,000 after buying an additional 3,511 shares during the period. Finally, Wellington Management Group LLP raised its stake in Planet Payment by 0.3% in the first quarter. Wellington Management Group LLP now owns 1,563,041 shares of the credit services provider’s stock valued at $6,221,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 51.47% of the company’s stock.

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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.

12 Month Chart for NASDAQ:PLPM

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