Global Payments Price Target Raised to $66.00 at Morgan Stanley (GPN)
Equities researchers at Morgan Stanley increased their price objective on shares of Global Payments (NYSE:GPN) from $63.00 to $66.00 in a research report issued on Thursday. Morgan Stanley’s price target would suggest a potential downside of 4.72% from the company’s current price.
A number of other analysts have also recently weighed in on GPN. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Global Payments from $72.00 to $77.00 in a research note on Thursday. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Global Payments in a research note on Wednesday. They now have a $73.00 price target on the stock, up previously from $68.00. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Global Payments in a research note on Wednesday. They now have a $78.00 price target on the stock, up previously from $77.00. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.00.
Shares of Global Payments (NYSE:GPN) remained flat at $69.27 during during mid-day trading trading on Thursday. 878,490 shares of the company’s stock traded hands. Global Payments has a 52-week low of $46.81 and a 52-week high of $74.46. The stock has a 50-day moving average of $72.19 and a 200-day moving average of $69.52. The company has a market cap of $4.723 billion and a P/E ratio of 20.55.
Global Payments (NYSE:GPN) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $673.98 million for the quarter, compared to the consensus estimate of $669.11 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that Global Payments will post $4.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Wednesday, August 13th.
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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