Planet Payment, Inc. (PLPM) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Planet Payment, Inc. (NASDAQ:PLPM) posted its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01, MarketWatch Earnings reports. Planet Payment had a net margin of 48.14% and a return on equity of 25.86%. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.56 million. Planet Payment’s revenue was down 4.6% on a year-over-year basis. Planet Payment updated its FY17 guidance to $0.16-0.18 EPS.

Shares of Planet Payment (NASDAQ:PLPM) traded down 0.27% during midday trading on Friday, hitting $3.69. 166,733 shares of the company’s stock were exchanged. Planet Payment has a 52 week low of $2.75 and a 52 week high of $4.64. The company has a 50-day moving average of $3.42 and a 200-day moving average of $3.78. The firm has a market cap of $181.69 million, a price-to-earnings ratio of 8.13 and a beta of 0.66.

Large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Planet Payment by 2.3% in the fourth quarter. State Street Corp now owns 556,816 shares of the credit services provider’s stock valued at $2,272,000 after buying an additional 12,575 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Planet Payment by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 907,679 shares of the credit services provider’s stock valued at $3,703,000 after buying an additional 38,832 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Planet Payment by 25.6% in the fourth quarter. Teachers Advisors LLC now owns 124,100 shares of the credit services provider’s stock valued at $506,000 after buying an additional 25,257 shares in the last quarter. Legato Capital Management LLC increased its stake in shares of Planet Payment by 298.0% in the first quarter. Legato Capital Management LLC now owns 30,642 shares of the credit services provider’s stock valued at $7,699,000 after buying an additional 22,943 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. increased its stake in shares of Planet Payment by 4.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 1,752,015 shares of the credit services provider’s stock valued at $6,973,000 after buying an additional 75,920 shares in the last quarter. 53.60% of the stock is owned by institutional investors.

Separately, Zacks Investment Research upgraded shares of Planet Payment from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th.

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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.

Earnings History for Planet Payment (NASDAQ:PLPM)

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