Wedbush Comments on Global Payments Inc.’s FY2017 Earnings (GPN)
Global Payments Inc. (NYSE:GPN) – Analysts at Wedbush raised their FY2017 earnings per share (EPS) estimates for shares of Global Payments in a report released on Wednesday. Wedbush analyst M. Katri now anticipates that the business services provider will post earnings per share of $3.73 for the year, up from their previous forecast of $3.71. Wedbush currently has a “Outperform” rating and a $107.25 price objective on the stock.
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $97.00 target price (up previously from $93.00) on shares of Global Payments in a research note on Monday, May 8th. Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Global Payments in a research note on Monday, May 15th. Finally, Instinet reiterated a “reduce” rating and set a $79.00 target price (up previously from $70.00) on shares of Global Payments in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.28.
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Shares of Global Payments (NYSE:GPN) opened at 92.80 on Thursday. The firm’s 50-day moving average price is $90.57 and its 200-day moving average price is $83.15. The firm has a market cap of $14.15 billion, a PE ratio of 73.01 and a beta of 1.09. Global Payments has a 12 month low of $64.63 and a 12 month high of $93.52.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. Global Payments had a return on equity of 17.38% and a net margin of 6.22%. The company had revenue of $919.76 million during the quarter, compared to analysts’ expectations of $767.09 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 46.9% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in shares of Global Payments by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,280 shares of the business services provider’s stock worth $366,000 after buying an additional 270 shares during the period. River & Mercantile Asset Management LLP bought a new position in shares of Global Payments during the fourth quarter worth about $1,204,000. Quadrature Capital Ltd bought a new position in shares of Global Payments during the fourth quarter worth about $380,000. Kentucky Retirement Systems bought a new position in shares of Global Payments during the fourth quarter worth about $774,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Global Payments during the fourth quarter worth about $345,000. 98.73% of the stock is owned by institutional investors.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $85.00, for a total value of $4,250,000.00. Following the completion of the transaction, the director now directly owns 267,552 shares of the company’s stock, valued at $22,741,920. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $90.52, for a total transaction of $54,312.00. Following the completion of the transaction, the director now directly owns 41,275 shares of the company’s stock, valued at $3,736,213. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,102 shares of company stock valued at $6,092,512. 0.93% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were issued a $0.0133 dividend. The ex-dividend date was Wednesday, June 7th. This is a boost from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a yield of 0.06%. Global Payments’s dividend payout ratio (DPR) is 3.45%.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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