Global Payments Inc. (NYSE:GPN) had its price objective lifted by Morgan Stanley from $98.00 to $106.00 in a research report sent to investors on Thursday, November 2nd. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.
A number of other research analysts also recently issued reports on GPN. Zacks Investment Research raised shares of Global Payments from a hold rating to a buy rating and set a $101.00 price objective for the company in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $90.00 price objective on shares of Global Payments in a report on Friday, July 7th. Credit Suisse Group reaffirmed an outperform rating and issued a $97.00 price objective (up previously from $91.00) on shares of Global Payments in a report on Thursday, July 13th. William Blair reaffirmed an outperform rating on shares of Global Payments in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $105.01.
Global Payments (NYSE GPN) opened at $103.21 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments has a 1-year low of $65.91 and a 1-year high of $104.83. The stock has a market cap of $16,086.11, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. sell-side analysts anticipate that Global Payments will post 3.81 EPS for the current fiscal year.
WARNING: “Global Payments Inc. (NYSE:GPN) Price Target Raised to $106.00 at Morgan Stanley” was first published by BBNS and is the property of of BBNS. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://baseballnewssource.com/markets/morgan-stanley-increases-global-payments-inc-gpn-price-target-to-106-00/1753223.html.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is 2.23%.
In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $98.32, for a total transaction of $58,992.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold a total of 37,200 shares of company stock worth $3,690,388 over the last ninety days. Insiders own 0.93% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GPN. Janus Henderson Group PLC lifted its stake in shares of Global Payments by 11,779.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after acquiring an additional 2,273,498 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after purchasing an additional 2,030,880 shares during the period. Capital International Investors acquired a new stake in shares of Global Payments in the second quarter valued at about $173,900,000. Capital Guardian Trust Co. acquired a new stake in shares of Global Payments in the second quarter valued at about $49,793,000. Finally, Vanguard Group Inc. lifted its stake in shares of Global Payments by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares during the period. Institutional investors own 91.13% 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.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with our FREE daily email newsletter.