Heartland Payment (HPY) Pops Higher on Strong Q2 Numbers, Raised FY12 Outlook; Approves $50M Buyback, Dividend

Heartland Payment Systems (NYSE: HPY) is trading stronger on the session Tuesday, following solid second-quarter 2012 results. EPS of 50 cents and revenue of $581.2 million compare with consensus estimates calling for EPS of 40 cents and revs of just $137.8 million.

Heartland also raised FY12 expectations, from EPS of $1.59 - $1.63 up to $1.70 - $1.74. Sales increase from $530 million - $540 million to $540 million - $545 million. The Street was expecting EPS of $1.46 and sales of $539.6 million.

The Company also announced that the Board of Directors declared a quarterly dividend of $0.06 per common share and authorized a new $50 million repurchase program under essentially the same terms and conditions as the completed program.

Shares are up 4.7 percent on the session.

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