Global Payments Inc. (GPN) Expected to Post FY2017 Earnings of $3.25 Per Share
Global Payments Inc. (NYSE:GPN) – Equities researchers at Wedbush cut their FY2017 earnings per share (EPS) estimates for Global Payments in a report released on Wednesday. Wedbush analyst M. Katri now forecasts that the firm will post earnings of $3.25 per share for the year, down from their prior forecast of $3.32. Wedbush currently has a “Outperform” rating and a $85.00 target price on the stock.
GPN has been the topic of a number of other research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research report on Tuesday, September 6th. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, October 3rd. William Blair reaffirmed an “outperform” rating on shares of Global Payments in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research report on Wednesday, September 28th. Finally, Goldman Sachs Group Inc. raised shares of Global Payments from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $88.00 in a research report on Thursday, September 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.92.
Shares of Global Payments (NYSE:GPN) traded up 0.15% during trading on Monday, reaching $73.81. The company’s stock had a trading volume of 1,003,519 shares. Global Payments has a 12 month low of $51.29 and a 12 month high of $79.93. The stock’s 50 day moving average price is $75.87 and its 200-day moving average price is $74.34. The firm has a market cap of $11.34 billion, a PE ratio of 37.99 and a beta of 1.09.
Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. Global Payments’s revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS.
The business also recently declared 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. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Global Payments’s payout ratio is currently 2.06%.
In other news, insider David E. Mangum sold 88,938 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the completion of the sale, the insider now owns 172,060 shares in the company, valued at approximately $12,916,544.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David E. Mangum sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.71, for a total transaction of $627,564.00. Following the sale, the chief operating officer now owns 172,060 shares of the company’s stock, valued at approximately $12,854,602.60. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its position in Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc increased its position in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares during the last quarter. PineBridge Investments L.P. purchased a new position in shares of Global Payments during the second quarter valued at approximately $139,000. IFP Advisors Inc increased its position in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock valued at $162,000 after buying an additional 636 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. purchased a new position in shares of Global Payments during the second quarter valued at approximately $168,000. 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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