Global Payments Inc. (GPN) Receives Average Recommendation of “Buy” from Brokerages
Shares of Global Payments Inc. (NYSE:GPN) have received a consensus rating of “Buy” from the twenty-two research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $94.26.
Several analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. Royal Bank Of Canada reduced their target price on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $103.00 target price (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $97.00 target price (up from $93.00) on shares of Global Payments in a research report on Monday, May 8th.
In related news, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of Global Payments stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the director now directly owns 183,177 shares of the company’s stock, valued at approximately $17,401,815. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $88.09, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 105,896 shares of company stock worth $9,957,734. Insiders own 0.93% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new stake in Global Payments during the fourth quarter valued at approximately $473,000. Raymond James Trust N.A. increased its stake in Global Payments by 12.6% in the first quarter. Raymond James Trust N.A. now owns 4,240 shares of the business services provider’s stock valued at $342,000 after buying an additional 474 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Global Payments by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 47,571 shares of the business services provider’s stock valued at $3,838,000 after buying an additional 380 shares in the last quarter. National Pension Service increased its stake in Global Payments by 87,070.3% in the first quarter. National Pension Service now owns 149,933 shares of the business services provider’s stock valued at $12,100,000 after buying an additional 149,761 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Global Payments by 18.5% in the first quarter. Bank of Montreal Can now owns 67,834 shares of the business services provider’s stock valued at $5,473,000 after buying an additional 10,604 shares in the last quarter. Institutional investors and hedge funds own 98.62% of the company’s stock.
Global Payments (GPN) opened at 94.48 on Tuesday. Global Payments has a one year low of $64.63 and a one year high of $97.99. The firm has a 50-day moving average of $92.76 and a 200-day moving average of $85.45. The company has a market cap of $14.41 billion, a PE ratio of 73.30 and a beta of 1.09.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.76 earnings per share. On average, analysts predict that Global Payments will post $3.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is 3.07%.
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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