Global Payments Inc (NYSE:GPN) – SunTrust Banks decreased their Q4 2018 earnings per share estimates for Global Payments in a report released on Friday, October 5th. SunTrust Banks analyst A. Jeffrey now forecasts that the business services provider will post earnings of $1.23 per share for the quarter, down from their prior forecast of $1.25.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. The firm had revenue of $982.50 million for the quarter, compared to the consensus estimate of $968.75 million. Global Payments had a return on equity of 17.99% and a net margin of 14.86%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share.
Several other research firms also recently commented on GPN. Buckingham Research lifted their price objective on Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Citigroup lifted their price objective on Global Payments from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Morgan Stanley lifted their price objective on Global Payments from $119.00 to $124.00 and gave the stock a “$117.08” rating in a report on Thursday, July 19th. BMO Capital Markets initiated coverage on Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, Guggenheim reiterated a “buy” rating and issued a $123.00 price objective on shares of Global Payments in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $119.00.
GPN opened at $117.86 on Monday. The stock has a market capitalization of $20.15 billion, a PE ratio of 30.13, a P/E/G ratio of 1.51 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.06. Global Payments has a 12 month low of $95.32 and a 12 month high of $129.25.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio is presently 1.00%.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of Global Payments stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $117.34, for a total transaction of $352,020.00. Following the sale, the director now directly owns 90,149 shares of the company’s stock, valued at approximately $10,578,083.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of Global Payments stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the sale, the director now directly owns 83,024 shares in the company, valued at $10,690,170.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,430 shares of company stock worth $11,833,594. 0.98% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Barometer Capital Management Inc. boosted its position in Global Payments by 2,900.0% during the 3rd quarter. Barometer Capital Management Inc. now owns 39,000 shares of the business services provider’s stock valued at $4,969,000 after acquiring an additional 37,700 shares in the last quarter. CENTRAL TRUST Co boosted its position in Global Payments by 274.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,449 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 1,062 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in Global Payments during the 2nd quarter valued at approximately $7,210,000. Northern Trust Corp boosted its position in Global Payments by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,769,690 shares of the business services provider’s stock valued at $197,302,000 after acquiring an additional 23,183 shares in the last quarter. Finally, FMR LLC boosted its position in Global Payments by 12.5% during the 2nd quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock valued at $1,082,860,000 after acquiring an additional 1,082,153 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.
About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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