Keefe, Bruyette & Woods Upgrades Heartland Payment Systems to “Outperform” (HPY)
Heartland Payment Systems (NYSE:HPY) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $56.00 price target on the stock, up from their previous price target of $51.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 16.72% from the stock’s previous close.
The analysts wrote, “We are upgrading Heartland Payment Systems to Outperform from Market Perform on valuation; current share price levels have about 17% upside potential to our new $56 price target, which is derived by applying a 17x multiple to our new 2016 EPS estimate of $3.42 and discounting back roughly three months. Our 2014 and 2015 EPS estimates of $2.36 and 2.98, respectively, remain unchanged.”
Shares of Heartland Payment Systems (NYSE:HPY) opened at 47.98 on Tuesday. Heartland Payment Systems has a 52 week low of $36.73 and a 52 week high of $50.44. The stock has a 50-day moving average of $44.94 and a 200-day moving average of $42.07. The company has a market cap of $1.726 billion and a P/E ratio of 24.57.
Heartland Payment Systems (NYSE:HPY) last announced its earnings results on Friday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The company had revenue of $159.40 million for the quarter, compared to the consensus estimate of $160.84 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that Heartland Payment Systems will post $2.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Monday, August 25th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, August 21st.
A number of other firms have also recently commented on HPY. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Heartland Payment Systems in a research note on Wednesday, August 13th. They now have a $50.00 price target on the stock, up previously from $46.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Heartland Payment Systems in a research note on Tuesday, August 5th. They now have a $47.00 price target on the stock, up previously from $43.00. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Heartland Payment Systems in a research note on Monday, August 4th. They now have a $48.00 price target on the stock, up previously from $43.00. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Heartland Payment Systems has an average rating of “Hold” and a consensus price target of $47.64.
Heartland Payment Systems, Inc provides bankcard payment processing services to merchants in the United States.
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