Global Payments Inc. (NYSE:GPN) had its price objective lifted by Morgan Stanley from $106.00 to $110.00 in a research report released on Thursday. The firm currently has an equal weight rating on the business services provider’s stock.
Several other brokerages also recently weighed in on GPN. Nomura restated a sell rating and set a $83.00 price objective on shares of Global Payments in a research report on Monday, October 16th. Barclays PLC upped their price objective on Global Payments from $98.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, August 4th. Credit Suisse Group restated an outperform rating and set a $97.00 price objective (up from $91.00) on shares of Global Payments in a research report on Thursday, July 13th. Royal Bank Of Canada restated an outperform rating and set a $108.00 price objective (up from $103.00) on shares of Global Payments in a research report on Thursday. Finally, Robert W. Baird restated a buy rating and set a $106.00 price objective on shares of Global Payments in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $104.56.
Shares of Global Payments (NYSE GPN) traded down $0.47 during mid-day trading on Thursday, hitting $98.85. The company had a trading volume of 1,142,800 shares, compared to its average volume of 1,123,539. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments has a twelve month low of $64.63 and a twelve month high of $104.83. The company has a market cap of $15,731.23, a P/E ratio of 26.57, a P/E/G ratio of 1.81 and a beta of 1.14.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $917.31 million. During the same period in the prior year, the company earned $0.89 EPS. Global Payments’s revenue for the quarter was up 9.1% on a year-over-year basis. analysts anticipate that Global Payments will post 3.75 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio is currently 2.23%.
In other Global Payments news, Director William I. Jacobs sold 8,428 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $94.05, for a total value of $792,653.40. Following the completion of the sale, the director now owns 40,675 shares of the company’s stock, valued at $3,825,483.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $97.69, for a total value of $58,614.00. Following the completion of the sale, the director now directly owns 46,093 shares of the company’s stock, valued at approximately $4,502,825.17. The disclosure for this sale can be found here. Insiders have sold 77,155 shares of company stock valued at $7,478,710 in the last ninety days. 0.93% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in GPN. Sun Life Financial INC grew its stake in Global Payments by 15,728.6% in the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 1,101 shares during the period. Thompson Davis & CO. Inc. grew its stake in Global Payments by 0.8% in the second 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 during the period. Intellectus Partners LLC acquired a new stake in Global Payments in the second quarter valued at approximately $128,000. Commonwealth Bank of Australia grew its stake in Global Payments by 13.6% in the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 176 shares during the period. Finally, Stephens Inc. AR acquired a new stake in Global Payments in the second quarter valued at approximately $143,000. 97.90% of the stock is owned by hedge funds and other institutional investors.
Global Payments Company Profile
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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