RBC Capital Increases Global Payments Price Target to $78.00 (GPN)
Equities researchers at RBC Capital lifted their target price on shares of Global Payments (NYSE:GPN) from $65.00 to $78.00 in a research report issued on Thursday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 16.35% from the company’s current price.
Global Payments (NYSE:GPN) traded up 4.08% during mid-day trading on Thursday, hitting $67.04. 3,877,832 shares of the company’s stock traded hands. Global Payments has a 1-year low of $43.73 and a 1-year 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 P/E ratio of 21.22.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, January 8th. The company reported $1.07 earnings per share for the quarter, beating the analysts’ 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 in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Global Payments will post $4.04 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $59.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Global Payments presently has a consensus rating of “Hold” and a consensus price target of $61.76.
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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