Nomura Reaffirms “Sell” Rating for Global Payments Inc. (GPN)
Global Payments Inc. (NYSE:GPN)‘s stock had its “sell” rating reissued by Nomura in a note issued to investors on Monday. They presently have a $83.00 target price on the business services provider’s stock. Nomura’s price target would suggest a potential downside of 16.45% from the stock’s previous close.
A number of other research analysts have also recently weighed in on GPN. Mizuho reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Global Payments in a report on Sunday. Robert W. Baird lifted their price objective on shares of Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $103.00 price objective (up previously from $102.00) on shares of Global Payments in a report on Friday, August 4th. Barclays PLC lifted their price objective on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. Global Payments presently has a consensus rating of “Buy” and an average price target of $100.32.
Shares of Global Payments (NYSE:GPN) traded down 0.30% on Monday, reaching $99.34. 811,139 shares of the company traded hands. Global Payments has a 1-year low of $64.63 and a 1-year high of $100.34. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 60.57 and a beta of 1.11. The company has a 50-day moving average of $96.20 and a 200-day moving average of $90.74.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts anticipate that Global Payments will post $3.95 earnings per share for the current fiscal year.
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In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the director now owns 183,177 shares in the company, valued at $17,401,815. The disclosure for this sale can be found here. Insiders sold a total of 163,549 shares of company stock worth $15,644,471 over the last quarter. 0.93% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Sun Life Financial INC boosted its holdings in Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares during the last quarter. Intellectus Partners LLC acquired a new position in Global Payments in the 2nd quarter valued at about $128,000. Commonwealth Bank of Australia boosted its holdings in Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 176 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in Global Payments in the 2nd quarter valued at about $143,000. Institutional investors own 97.80% of the company’s stock.
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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