Global Payments Downgraded to “Market Perform” at Raymond James (GPN)
Global Payments (NYSE:GPN) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $59.00 target price on the stock. Raymond James’ target price points to a potential downside of 11.99% from the company’s current price. The analysts noted that the move was a valuation call.
GPN has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They noted that the move was a valuation call. Separately, analysts at Evercore Partners raised their price target on shares of Global Payments from $64.00 to $72.00 in a research note to investors on Monday. Finally, analysts at Buckingham Research initiated coverage on shares of Global Payments in a research note to investors on Monday, December 23rd. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.76.
Shares of Global Payments (NYSE:GPN) traded up 4.08% during mid-day trading on Thursday, hitting $67.04. The stock had a trading volume of 3,877,832 shares. Global Payments has a 52 week low of $43.73 and a 52 week high of $67.22. The stock’s 50-day moving average is $63.5 and its 200-day moving average is $54.58. The company has a market cap of $4.886 billion and a price-to-earnings ratio of 21.22.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, January 8th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.02 by $0.05. The company had revenue of $634.10 million for the quarter, compared to the consensus estimate of $624.49 million. During the same quarter last year, the company posted $0.93 earnings per share. Global Payments’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Global Payments will post $4.04 earnings per share for the current fiscal year.
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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