Global Payments Inc. (GPN) Receives Outperform Rating from Oppenheimer Holdings Inc.
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Friday. They presently have a $85.00 price objective on the stock. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 11.83% from the stock’s previous close.
A number of other brokerages have also issued reports on GPN. Goldman Sachs Group Inc. upgraded shares of Global Payments from a “neutral” rating to a “buy” rating and upped their target price for the stock from $80.00 to $88.00 in a research report on Thursday, September 15th. Barclays PLC reduced their target price on shares of Global Payments from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 7th. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Global Payments in a research report on Thursday, September 8th. Deutsche Bank AG reiterated a “buy” rating and set a $85.00 target price (up from $79.00) on shares of Global Payments in a research report on Thursday. Finally, Nomura increased their price objective on shares of Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $77.92.
Global Payments (NYSE:GPN) opened at 76.01 on Friday. The firm’s 50-day moving average is $75.90 and its 200 day moving average is $74.02. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The stock has a market capitalization of $11.68 billion, a PE ratio of 37.26 and a beta of 1.09.
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Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The company had revenue of $939.50 million for the quarter. During the same quarter in the previous year, the company posted $0.79 earnings per share. Global Payments’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, equities analysts forecast that Global Payments will post $3.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total transaction of $45,480.00. Following the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at $3,389,472.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the transaction, the director now directly owns 349,063 shares in the company, valued at $26,085,477.99. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in Global Payments by 0.4% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,279 shares of the company’s stock worth $482,000 after buying an additional 25 shares in the last quarter. Ranger Investment Management L.P. raised its position in Global Payments by 0.4% in the second quarter. Ranger Investment Management L.P. now owns 17,030 shares of the company’s stock worth $1,216,000 after buying an additional 60 shares in the last quarter. Fulton Bank raised its position in Global Payments by 1.7% in the fourth quarter. Fulton Bank now owns 9,467 shares of the company’s stock worth $611,000 after buying an additional 155 shares in the last quarter. Commonwealth Equity Services Inc raised its position in Global Payments by 3.2% in the second quarter. Commonwealth Equity Services Inc now owns 5,219 shares of the company’s stock worth $373,000 after buying an additional 162 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Global Payments by 5.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,692 shares of the company’s stock worth $264,000 after buying an additional 176 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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