Zacks Investment Research lowered shares of Global Payments Inc. (NYSE:GPN) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Global Payments' shares have outperformed its industry year to date. The company’s investment in future growth, efforts to progress with the Heartland integration and successful refinancing of its credit facilities bode well for the long term. The company is witnessing sustained growth in business from Europe, Asia Pacific and North America. Global Payments earnings beat the Zacks Consensus Estimate and improved 29% year over year. Better-than-expected earnings were backed by higher revenues across its marketsFollowing the company’s strong third-quarter earnings, Heartland integration as well as the recent refinancing, the company raised its projections for 2017. Nevertheless, the company suffers from high debt and exposure to currency volatility.”
A number of other equities research analysts also recently commented on GPN. William Blair reiterated an outperform rating on shares of Global Payments in a report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a buy rating and set a $100.00 price target on shares of Global Payments in a report on Thursday, August 3rd. Royal Bank Of Canada lowered their price target on shares of Global Payments from $103.00 to $90.00 and set an outperform rating for the company in a report on Friday, August 4th. Barclays PLC lifted their price target on shares of Global Payments from $98.00 to $105.00 and gave the stock an overweight rating in a report on Friday, August 4th. Finally, Compass Point downgraded shares of Global Payments from a buy rating to a neutral rating and lifted their price target for the stock from $95.72 to $96.00 in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. Global Payments has a consensus rating of Buy and an average price target of $105.01.
Global Payments (GPN) opened at $100.03 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments has a twelve month low of $65.91 and a twelve month high of $104.83. The firm has a market cap of $15,950.00, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.
Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. During the same period last year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts anticipate that Global Payments will post 3.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 2.27%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $97.70, for a total transaction of $58,620.00. Following the completion of the sale, the director now owns 46,693 shares in the company, valued at $4,561,906.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 8,428 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $94.05, for a total transaction of $792,653.40. Following the sale, the director now owns 40,675 shares of the company’s stock, valued at approximately $3,825,483.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,555 shares of company stock valued at $6,951,810. Insiders own 0.93% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC increased its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of Global Payments during the second quarter worth about $128,000. Commonwealth Bank of Australia grew its position in shares of Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after acquiring an additional 176 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in shares of Global Payments during the second quarter worth about $143,000. Hedge funds and other institutional investors own 97.90% 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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