SunTrust Increases Global Payments Price Target to $67.00 (GPN)
Equities researchers at SunTrust raised their price target on shares of Global Payments (NYSE:GPN) from $64.00 to $67.00 in a research report issued on Thursday. SunTrust’s price target suggests a potential downside of 3.28% from the company’s current price.
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 1-year low of $46.81 and a 1-year high of $74.46. The stock’s 50-day moving average is $72.19 and its 200-day moving average is $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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.98 earnings per share. Global Payments’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that Global Payments will post $4.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Wednesday, August 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley raised their price target on shares of Global Payments from $63.00 to $66.00 in a research note on Thursday. Separately, 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. Finally, 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. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Global Payments has a consensus rating of “Hold” and an average price target of $74.00.
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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