Equities Analysts Issue Forecasts for Global Payments Inc.’s Q3 2017 Earnings (GPN)
Global Payments Inc. (NYSE:GPN) – Analysts at SunTrust Banks decreased their Q3 2017 earnings per share estimates for Global Payments in a research report issued on Wednesday. SunTrust Banks analyst A. Jeffrey now forecasts that the business services provider will post earnings per share of $1.06 for the quarter, down from their prior forecast of $1.09. SunTrust Banks also issued estimates for Global Payments’ Q4 2017 earnings at $1.01 EPS and FY2017 earnings at $3.72 EPS.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The firm had revenue of $919.76 million for the quarter, compared to the consensus estimate of $767.09 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 46.9% compared to the same quarter last year.
Other analysts have also issued reports about the company. Barclays PLC raised Global Payments from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $88.00 to $92.00 in a report on Thursday, March 30th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Zacks Investment Research downgraded Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Credit Suisse Group increased their target price on Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $90.28.
Shares of Global Payments (NYSE:GPN) opened at 93.61 on Friday. Global Payments has a 1-year low of $64.63 and a 1-year high of $93.87. The firm has a market cap of $14.27 billion, a P/E ratio of 73.65 and a beta of 1.09. The firm’s 50-day moving average is $90.63 and its 200-day moving average is $83.23.
Several hedge funds have recently modified their holdings of the stock. Financial Architects Inc raised its stake in Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock worth $149,000 after buying an additional 233 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its stake in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after buying an additional 930 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $164,000 after buying an additional 933 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in Global Payments during the first quarter worth about $200,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Global Payments during the first quarter worth about $203,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $88.09, for a total value of $52,854.00. Following the sale, the director now directly owns 49,093 shares in the company, valued at $4,324,602.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 267,552 shares in the company, valued at $22,741,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,702 shares of company stock worth $6,147,076. Corporate insiders own 0.93% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were paid a $0.0133 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a dividend yield of 0.06%. Global Payments’s payout ratio is presently 3.45%.
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 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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