JPMorgan Chase & Co. Issues Pessimistic Forecast for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $115.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.95% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Williams Trading set a $75.00 price objective on shares of Global Payments in a report on Friday, April 18th. KeyCorp cut their price objective on shares of Global Payments from $145.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group cut Global Payments from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Friday, April 18th. Wolfe Research reissued a “peer perform” rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on Global Payments from $105.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has an average rating of “Hold” and a consensus target price of $112.09.

Global Payments Stock Up 0.7 %

GPN opened at $79.47 on Wednesday. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.86 and a beta of 0.96. The firm has a 50 day moving average price of $87.26 and a 200-day moving average price of $102.48. Global Payments has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm earned $2.59 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that Global Payments will post 11.89 earnings per share for the current year.

Hedge Funds Weigh In On Global Payments

A number of large investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in shares of Global Payments during the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new position in shares of Global Payments during the first quarter worth $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Global Payments during the 4th quarter valued at $37,000. Larson Financial Group LLC boosted its position in shares of Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after purchasing an additional 317 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. purchased a new position in Global Payments during the 4th quarter worth $38,000. 89.76% of the stock is currently owned by institutional investors.

Global Payments Company Profile

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.