Global Payments Inc. Forecasted to Earn Q2 2017 Earnings of $0.81 Per Share (GPN)
Global Payments Inc. (NYSE:GPN) – William Blair increased their Q2 2017 earnings per share estimates for Global Payments in a research report issued to clients and investors on Wednesday. William Blair analyst R. Napoli now anticipates that the brokerage will post earnings of $0.81 per share for the quarter, up from their previous estimate of $0.79. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Global Payments’ Q3 2017 earnings at $0.80 EPS and FY2017 earnings at $3.33 EPS.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $939.50 million for the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS.
GPN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a report on Wednesday, September 28th. Robert W. Baird reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a report on Tuesday, September 6th. Finally, Stifel Nicolaus increased their price objective on shares of Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $77.92.
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Shares of Global Payments (NYSE:GPN) opened at 76.01 on Monday. The stock has a market cap of $11.68 billion, a P/E ratio of 39.12 and a beta of 1.09. The company’s 50-day moving average is $75.90 and its 200-day moving average is $74.02. Global Payments has a 12-month low of $51.29 and a 12-month high of $79.93.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio (DPR) is currently 2.06%.
In related news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $73.62, for a total transaction of $44,172.00. Following the transaction, the director now owns 43,516 shares of the company’s stock, valued at $3,203,647.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction on 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 approximately $26,085,477.99. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in shares of Global Payments by 47.1% in the first quarter. Aperio Group LLC now owns 23,446 shares of the company’s stock worth $1,531,000 after buying an additional 7,507 shares during the period. BlackRock Group LTD raised its position in shares of Global Payments by 2.0% in the first quarter. BlackRock Group LTD now owns 515,022 shares of the company’s stock worth $33,630,000 after buying an additional 10,310 shares during the period. Palisade Capital Management LLC NJ bought a new position in shares of Global Payments during the first quarter worth about $7,167,000. Credit Agricole S A raised its position in shares of Global Payments by 20.4% in the first quarter. Credit Agricole S A now owns 58,710 shares of the company’s stock worth $3,833,000 after buying an additional 9,959 shares during the period. Finally, BB&T Securities LLC raised its position in shares of Global Payments by 10.1% in the first quarter. BB&T Securities LLC now owns 6,160 shares of the company’s stock worth $402,000 after buying an additional 567 shares during the period. 96.56% of the stock is currently owned by institutional investors and hedge funds.
About Global Payments
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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