Global Payments Inc (NYSE:GPN) has been assigned a consensus recommendation of “Buy” from the twenty-five brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $164.74.
A number of analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Global Payments from $143.00 to $163.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating and set a $163.00 price target for the company in a research report on Tuesday, May 7th. Wells Fargo & Co lifted their price target on Global Payments from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets downgraded Global Payments from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $164.00 to $173.00 in a research report on Wednesday, May 29th. Finally, Deutsche Bank lifted their price target on Global Payments from $162.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, July 26th.
In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $165.05, for a total transaction of $99,030.00. Following the transaction, the director now directly owns 30,188 shares of the company’s stock, valued at approximately $4,982,529.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Ann Marshall sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $160.24, for a total value of $801,200.00. Following the transaction, the director now directly owns 43,677 shares in the company, valued at $6,998,802.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,300 shares of company stock worth $1,010,795. 0.88% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Lenox Wealth Advisors LLC purchased a new position in Global Payments in the 2nd quarter worth approximately $25,000. Next Capital Management LLC purchased a new position in shares of Global Payments during the second quarter valued at approximately $25,000. Citizens Financial Group Inc RI purchased a new position in shares of Global Payments during the second quarter valued at approximately $27,000. Cornerstone Advisors Inc. increased its stake in shares of Global Payments by 114.9% during the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after buying an additional 108 shares during the period. Finally, Berman Capital Advisors LLC increased its stake in shares of Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after buying an additional 181 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.
NYSE GPN traded up $1.77 during trading hours on Friday, hitting $155.72. The company had a trading volume of 47,799 shares, compared to its average volume of 1,708,206. Global Payments has a 52 week low of $94.81 and a 52 week high of $172.20. The company’s 50 day moving average is $162.75. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01.
Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Global Payments had a return on equity of 20.36% and a net margin of 13.62%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. Sell-side analysts forecast that Global Payments will post 5.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio is 0.77%.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
Further Reading: What are Bollinger Bands?
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.