Global Payments Receives “Neutral” Rating from JPMorgan Chase & Co. (GPN)
Global Payments (NYSE:GPN)‘s stock had its “neutral” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Wednesday. They currently have a $77.00 target price on the stock, up from their previous target price of $74.00. JPMorgan Chase & Co.’s price objective points to a potential upside of 11.38% from the company’s current price.
Global Payments (NYSE:GPN) traded up 1.55% on Wednesday, hitting $70.18. The stock had a trading volume of 259,808 shares. Global Payments has a 52-week low of $46.81 and a 52-week high of $74.46. The stock’s 50-day moving average is $71.73 and its 200-day moving average is $69.51. The company has a market cap of $4.785 billion and a P/E ratio of 20.51.
Global Payments (NYSE:GPN) last released its earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that Global Payments will post $4.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders 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.
A number of other analysts have also recently weighed in on GPN. Analysts at Jefferies Group raised their price target on shares of Global Payments from $72.00 to $80.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust raised their price target on shares of Global Payments from $64.00 to $67.00 in a research note on Thursday, July 31st. Finally, 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, July 31st. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.55.
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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