Oppenheimer Increases Global Payments Price Target to $63.00 (GPN)
Equities researchers at Oppenheimer boosted their price target on shares of Global Payments (NYSE:GPN) from $55.00 to $63.00 in a research report issued on Wednesday, American Banking News reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 17.23% from the stock’s previous close.
Shares of Global Payments (NYSE:GPN) opened at 53.74 on Wednesday. Global Payments has a 1-year low of $41.01 and a 1-year high of $57.42. The stock’s 50-day moving average is $50.13 and its 200-day moving average is $47.9. The company has a market cap of $3.917 billion and a P/E ratio of 17.70.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.05. The company had revenue of $629.70 million for the quarter, compared to the consensus estimate of $623.79 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis.
In other Global Payments news, EVP Suellyn P. Tornay sold 15,000 shares of Global Payments stock on the open market in a transaction dated Friday, October 4th. The stock was sold at an average price of $56.91, for a total transaction of $853,650.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on GPN. Analysts at First Analysis downgraded shares of Global Payments from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, analysts at UBS AG raised their price target on shares of Global Payments from $49.00 to $52.00 in a research note to investors on Wednesday, October 2nd. They now have a “neutral” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Global Payments from $47.00 to $49.00 in a research note to investors on Wednesday, October 2nd. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.36.
Global Payments Inc (NYSE:GPN) is a provider of electronic payments transaction processing services for consumers, merchants, independent sales organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, the United Kingdom, Spain, the Asia-Pacific region, the Czech Republic, and the Russian Federation.
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