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.
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.
TRADEMARK VIOLATION WARNING: “Planet Payment Inc (PLPM) Releases Earnings Results, Misses Estimates By $0.01 EPS” was first published by Markets Daily and is the property of of Markets Daily. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.themarketsdaily.com/2017/05/20/planet-payment-inc-plpm-releases-quarterly-earnings-results-misses-expectations-by-0-01-eps-updated.html.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.