Global Payments Inc. (GPN) Receives Outperform Rating from Robert W. Baird
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reissued by research analysts at Robert W. Baird in a report released on Thursday. They presently have a $88.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 19.97% from the stock’s previous close.
A number of other analysts have also commented on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research report on Friday, October 7th. Stifel Nicolaus boosted their price objective on shares of Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, October 7th. Deutsche Bank AG reissued a “buy” rating and issued a $85.00 price objective (up previously from $79.00) on shares of Global Payments in a research report on Thursday, October 6th. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, October 3rd. Finally, Barclays PLC boosted their price objective on shares of Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Global Payments presently has a consensus rating of “Buy” and a consensus price target of $78.03.
Global Payments (NYSE:GPN) traded down 0.62% during mid-day trading on Thursday, reaching $73.35. 919,536 shares of the company’s stock traded hands. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93. The firm has a market cap of $11.27 billion, a PE ratio of 37.75 and a beta of 1.09. The firm has a 50 day moving average of $75.74 and a 200 day moving average of $74.32.
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Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The company earned $939.50 million during 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. Analysts forecast that Global Payments will post $3.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Global Payments’s payout ratio is currently 2.06%.
In other news, Director William I. Jacobs sold 6,360 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $75.21, for a total value of $478,335.60. Following the sale, the director now directly owns 44,716 shares in the company, valued at approximately $3,363,090.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David E. Mangum sold 88,938 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the completion of the sale, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of GPN. Geode Capital Management LLC increased its stake in Global Payments by 0.9% in the first quarter. Geode Capital Management LLC now owns 773,444 shares of the company’s stock worth $50,475,000 after buying an additional 7,011 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Global Payments by 91.5% in the first quarter. Riverhead Capital Management LLC now owns 46,724 shares of the company’s stock worth $3,050,000 after buying an additional 22,324 shares during the period. Lazard Asset Management LLC raised its position in shares of Global Payments by 66.4% in the first quarter. Lazard Asset Management LLC now owns 113,522 shares of the company’s stock worth $7,412,000 after buying an additional 45,281 shares during the period. Bank of Montreal Can acquired a new position in shares of Global Payments during the second quarter worth about $7,668,000. Finally, Capital Fund Management S.A. raised its position in shares of Global Payments by 163.4% in the second quarter. Capital Fund Management S.A. now owns 464,283 shares of the company’s stock worth $33,141,000 after buying an additional 288,045 shares during the period. Institutional investors own 96.56% of the company’s stock.
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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