Monness Crespi & Hardt Lowers Global Payments (NYSE:GPN) Price Target to $165.00

Global Payments (NYSE:GPN) had its price objective dropped by equities researchers at Monness Crespi & Hardt from $175.00 to $165.00 in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Monness Crespi & Hardt’s target price would indicate a potential upside of 48.15% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a research note on Thursday, February 1st. Robert W. Baird reduced their price objective on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho restated a “neutral” rating and issued a $129.00 price objective on shares of Global Payments in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Barclays reduced their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Global Payments Stock Performance

Shares of GPN traded up $0.83 during mid-day trading on Friday, hitting $111.37. 3,191,218 shares of the company’s stock were exchanged, compared to its average volume of 2,029,470. Global Payments has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The firm has a market capitalization of $28.43 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.72 and a beta of 0.97. The business’s 50 day moving average is $127.50 and its two-hundred day moving average is $124.69. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.01. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $2.30 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Global Payments will post 10.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC purchased a new stake in Global Payments in the 3rd quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Global Payments in the 4th quarter worth approximately $30,000. West Paces Advisors Inc. grew its stake in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Global Payments in the 4th quarter worth approximately $41,000. Finally, North Star Investment Management Corp. grew its stake in Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.