Global Payments (NYSE:GPN) Price Target Lowered to $145.00 at KeyCorp

Global Payments (NYSE:GPN) had its price objective trimmed by KeyCorp from $155.00 to $145.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other analysts also recently weighed in on the company. Barclays lowered their target price on Global Payments from $170.00 to $160.00 and set an overweight rating for the company in a research note on Tuesday, April 16th. Robert W. Baird dropped their price objective on Global Payments from $182.00 to $150.00 and set an outperform rating on the stock in a report on Thursday. B. Riley raised their price objective on shares of Global Payments from $180.00 to $186.00 and gave the stock a buy rating in a research note on Monday, February 5th. TheStreet raised Global Payments from a c rating to a b- rating in a research note on Thursday, February 1st. Finally, Evercore ISI lowered their price target on Global Payments from $185.00 to $180.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $150.00.

Global Payments Stock Down 0.4 %

Shares of GPN stock traded down $0.47 during mid-day trading on Thursday, hitting $110.90. 580,098 shares of the stock traded hands, compared to its average volume of 2,260,166. Global Payments has a 52-week low of $95.12 and a 52-week high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $28.31 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.72 and a beta of 0.97. The stock’s fifty day moving average is $127.50 and its two-hundred day moving average is $124.82.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.30 EPS. Equities analysts predict that Global Payments will post 10.95 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s payout ratio is presently 19.84%.

Hedge Funds Weigh In On Global Payments

Institutional investors and hedge funds have recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Global Payments during the fourth quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Global Payments during the fourth quarter valued at about $41,000. West Paces Advisors Inc. raised its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.