Zacks Investment Research Downgrades Global Payments Inc. (GPN) to Hold
Global Payments Inc. (NYSE:GPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations, financial institutions, government agencies and multi- national corporations located throughout the United States, Canada, Latin America and Europe. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery, as well as terminal management. The company also provides consumer money transfer services from the U.S. and Europe to destinations in Latin America, Morocco, and the Philippines. “
A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird restated an “outperform” rating and issued a $85.00 price target on shares of Global Payments in a report on Tuesday, September 6th. William Blair restated an “outperform” rating on shares of Global Payments in a report on Tuesday, September 27th. Compass Point upgraded Global Payments from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Tuesday. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $85.00 price target on shares of Global Payments in a report on Wednesday, September 28th. Finally, Stifel Nicolaus upped their price target on Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. Global Payments has a consensus rating of “Buy” and an average price target of $78.88.
Shares of Global Payments (NYSE:GPN) opened at 69.76 on Wednesday. Global Payments has a one year low of $51.29 and a one year high of $79.93. The firm has a 50-day moving average price of $73.31 and a 200 day moving average price of $74.50. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 35.90 and a beta of 1.10.
Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The business earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share. Equities analysts forecast that Global Payments will post $3.51 earnings per share for the current fiscal year.
The firm also recently announced 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 of this dividend is Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.06%. Global Payments’s dividend payout ratio is presently 2.06%.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the completion of the sale, the director now directly owns 349,063 shares in the company, valued at $26,085,477.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $73.62, for a total value of $44,172.00. Following the sale, the director now owns 43,516 shares of the company’s stock, valued at $3,203,647.92. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC acquired a new stake in shares of Global Payments during the third quarter valued at $100,000. Acrospire Investment Management LLC increased its stake in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc increased its stake 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 in the last quarter. PineBridge Investments L.P. acquired a new stake in shares of Global Payments during the second quarter valued at $139,000. Finally, Global X Management Co. LLC increased its stake in shares of Global Payments by 90.7% in the third quarter. Global X Management Co. LLC now owns 1,943 shares of the company’s stock valued at $149,000 after buying an additional 924 shares in the last quarter. Institutional investors own 96.63% of the company’s stock.
About Global Payments
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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