Why Heartland Payment Systems (HPY) Stock Is Up Today

NEW YORK (TheStreet) -- Heartland Payment Systems (HPY) was gaining 8.6% to $40.98 Wednesday after beating analysts' estimates for earnings in the first quarter.

For the first quarter the company reported earnings of 52 cents a share, beating the Capital IQ Consensus Estimate of 51 cents a share by 1 cent. Revenue grew 5.9% from the year-ago quarter to $155.5 million. Analysts expected revenue of $155.85 million for the quarter.

Looking to the full-year 2014 Heartland Payment Systems expects revenue to grow between 8% and 10% to between about $645 million and $660 million. The company expects earnings of between $2.37 and $2.41 for the year.

"We continue to deliver record earnings, notwithstanding the negative impact of the severe winter weather on the entire industry," chairman and CEO Robert O. Carr said in a press release. "The continued success of our new business initiatives produced all-time record new margin installed for the third consecutive quarter and our first ever $7 million month in March. The strong momentum of our sales efforts will begin to drive faster card processing volume and associated revenue growth as we move through the year."

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TheStreet Ratings team rates HEARTLAND PAYMENT SYSTEMS as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

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