Global Payments Inc. (GPN) Earns Outperform Rating from Oppenheimer Holdings Inc.
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Oppenheimer Holdings Inc. in a report released on Friday. They currently have a $85.00 price target on the stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 11.83% from the stock’s previous close.
Several other equities research analysts also recently weighed in on GPN. Barclays PLC upped their target price on Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, September 30th. Nomura upped their target price on Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Wednesday, June 29th. Robert W. Baird reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a research report on Tuesday, September 6th. Finally, William Blair reissued an “outperform” rating on shares of Global Payments in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. Global Payments currently has an average rating of “Buy” and an average price target of $77.92.
Global Payments (NYSE:GPN) opened at 76.01 on Friday. The firm’s 50-day moving average price is $75.90 and its 200 day moving average price is $74.02. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 39.12 and a beta of 1.09. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93.
Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company earned $939.50 million during the quarter. During the same period in the previous year, the company earned $0.79 EPS. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. On average, equities research analysts forecast that Global Payments will post $3.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
In other news, insider David E. Mangum sold 88,938 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total value of $6,676,575.66. Following the completion of the sale, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the completion of the sale, the director now owns 44,716 shares of the company’s stock, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Global Payments by 7.2% in the second quarter. FMR LLC now owns 15,448,116 shares of the company’s stock worth $1,102,686,000 after buying an additional 1,033,050 shares during the last quarter. Vanguard Group Inc. raised its stake in Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares during the last quarter. Wellington Management Group LLP raised its stake in Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock worth $783,456,000 after buying an additional 8,333,396 shares during the last quarter. State Street Corp raised its stake in Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares during the last quarter. Institutional investors own 96.56% of the company’s stock.
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 in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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