Global Payments Inc. (GPN) Earns Buy Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note published on Thursday. The brokerage currently has a $100.00 price objective on the business services provider’s stock.
Several other equities analysts also recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Global Payments in a report on Thursday, June 1st. They issued a buy rating and a $102.00 price objective on 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 report on Monday, May 15th. Credit Suisse Group upped their price objective on shares of Global Payments from $86.00 to $91.00 and gave the company an outperform rating in a report on Monday, May 15th. Barclays PLC reiterated a buy rating and issued a $96.00 price objective on shares of Global Payments in a report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $90.00 price objective on shares of Global Payments in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. Global Payments presently has a consensus rating of Buy and a consensus price target of $93.09.
Shares of Global Payments (GPN) opened at 97.72 on Thursday. Global Payments has a 12-month low of $64.63 and a 12-month high of $97.99. The company has a market capitalization of $14.90 billion, a P/E ratio of 76.88 and a beta of 1.09. The company’s 50 day moving average is $91.38 and its 200 day moving average is $84.38.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. Analysts expect that Global Payments will post $3.89 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/07/global-payments-inc-gpn-earns-buy-rating-from-keefe-bruyette-woods.html.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio is 3.07%.
In other news, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the director now owns 183,177 shares of the company’s stock, valued at $17,401,815. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $90.94, for a total transaction of $54,564.00. Following the completion of the transaction, the director now directly owns 47,893 shares of the company’s stock, valued at approximately $4,355,389.42. The disclosure for this sale can be found here. Insiders sold 30,702 shares of company stock valued at $2,847,076 in the last three months. Company insiders own 0.93% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GPN. Financial Architects Inc boosted its position 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 period. Morgan Dempsey Capital Management LLC boosted its position 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 period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position 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 valued at $164,000 after buying an additional 933 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in Global Payments during the first quarter valued at about $200,000. Finally, Lakeview Capital Partners LLC purchased a new position in Global Payments during the second quarter valued at about $200,000. 98.70% 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.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.