Zacks Investment Research Lowers Global Payments Inc. (GPN) to Hold
Global Payments Inc. (NYSE:GPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Global Payments' shares have outperformed its industry year to date. The company’s investment in future growth, efforts to progress with the Heartland integration and successful refinancing of its credit facilities bode well for the long term. The company is witnessing sustained growth in business from Europe, Asia Pacific and North America. Global Payments earnings beat the Zacks Consensus Estimate and improved 29% year over year. Better-than-expected earnings were backed by higher revenues across its marketsFollowing the company’s strong third-quarter earnings, Heartland integration as well as the recent refinancing, the company raised its projections for 2017. Nevertheless, the company suffers from high debt and exposure to currency volatility.”
A number of other brokerages also recently weighed in on GPN. Nomura reiterated a “sell” rating and set a $83.00 price target on shares of Global Payments in a report on Monday, October 16th. Barclays PLC lifted their price target on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Morgan Stanley boosted their target price on Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 target price (up previously from $103.00) on shares of Global Payments in a research note on Thursday, November 9th. Finally, Robert W. Baird restated a “buy” rating and issued a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $104.56.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $917.31 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Global Payments’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that Global Payments will post 3.75 EPS for the current fiscal year.
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In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $93.74, for a total value of $56,244.00. Following the completion of the transaction, the director now owns 47,293 shares of the company’s stock, valued at approximately $4,433,245.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total value of $2,468,768.94. Following the completion of the transaction, the executive vice president now directly owns 34,622 shares of the company’s stock, valued at approximately $3,296,706.84. The disclosure for this sale can be found here. Insiders have sold a total of 71,555 shares of company stock valued at $6,949,062 in the last three months. 0.93% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. raised 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 acquiring an additional 10 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Global Payments by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock valued at $1,023,000 after purchasing an additional 34 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Global Payments by 0.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock valued at $1,083,000 after purchasing an additional 41 shares during the period. First Personal Financial Services grew its stake in shares of Global Payments by 1.7% in the 2nd quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 47 shares during the period. Finally, Keybank National Association OH grew its stake in shares of Global Payments by 1.5% in the 2nd quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 56 shares during the period. 97.90% of the stock is owned by hedge funds and other institutional investors.
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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