Credit Suisse Group AG Boosts Global Payments Inc (GPN) Price Target to $91.00
Global Payments Inc (NYSE:GPN) had its price objective hoisted by stock analysts at Credit Suisse Group AG from $86.00 to $91.00 in a research report issued on Friday, May 5th. The brokerage currently has an “outperform” rating on the business services provider’s stock. Credit Suisse Group AG’s price objective points to a potential upside of 2.51% from the stock’s current price.
Several other research firms have also recently issued reports on GPN. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Global Payments in a research report on Friday, May 5th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Zacks Investment Research cut Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $92.00 target price (up previously from $85.00) on shares of Global Payments in a research report on Tuesday, January 10th. Finally, Piper Jaffray Companies increased their target price on Global Payments from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.55.
Global Payments (NYSE:GPN) traded up 1.13% during midday trading on Friday, reaching $89.77. 312,628 shares of the company traded hands. Global Payments has a one year low of $64.63 and a one year high of $89.98. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 70.63 and a beta of 1.05. The firm has a 50-day moving average price of $82.28 and a 200-day moving average price of $76.92.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The business had revenue of $919.76 million during the quarter, compared to analysts’ expectations of $767.09 million. Global Payments had a return on equity of 19.50% and a net margin of 7.28%. The business’s quarterly revenue was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. Equities analysts predict that Global Payments will post $3.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be paid a dividend of $0.0133 per share. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date is Wednesday, June 7th. Global Payments’s dividend payout ratio (DPR) is currently 2.41%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $80.03, for a total transaction of $48,018.00. Following the transaction, the director now directly owns 48,493 shares in the company, valued at approximately $3,880,894.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $80.00, for a total value of $280,000.00. Following the transaction, the director now owns 265,752 shares in the company, valued at $21,260,160. The disclosure for this sale can be found here. Insiders have sold a total of 63,500 shares of company stock valued at $5,331,320 over the last three months. 1.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Triangle Securities Wealth Management purchased a new position in Global Payments during the first quarter valued at approximately $204,000. Northern Trust Corp increased its position in Global Payments by 1.6% in the third quarter. Northern Trust Corp now owns 1,815,013 shares of the business services provider’s stock valued at $139,321,000 after buying an additional 27,744 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Global Payments by 1.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 311,057 shares of the business services provider’s stock valued at $23,877,000 after buying an additional 2,962 shares during the last quarter. Bain Capital Public Equity Management LLC bought a new position in shares of Global Payments during the fourth quarter worth about $10,210,000. Finally, Stellar Capital Management LLC bought a new position in shares of Global Payments during the fourth quarter worth about $2,528,000. Institutional investors own 97.82% 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 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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