Zacks Investment Research upgraded shares of Global Payments (NYSE:GPN) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $124.00 target price on the business services provider’s stock.
According to Zacks, “Global Payments' strategic investments in future growth-driving projects, efforts to progress with the Heartland integration and successful refinancing of its credit facilities bode well for the long term. The consistent top-line growth and accretive acquisitions are impressive as well. Shares of the have underperformed when compared to the industry in the past one year. However, the company has witnessed its Zacks Consensus Estimate for the 2018 and 2019 earnings being revised upward over the last 30 days. Global Payments suffers from a rising debt level that weighs on its margins. Moreover, the company’s operations are also expected face currency volatility owing to its worldwide presence.”
Several other analysts have also recently commented on the stock. SunTrust Banks increased their price target on shares of Global Payments to $145.00 and gave the company a buy rating in a research note on Friday, March 2nd. Stephens reissued a buy rating and set a $125.00 price target on shares of Global Payments in a research note on Tuesday, February 27th. KeyCorp reissued an overweight rating and set a $125.00 price target (up from $120.00) on shares of Global Payments in a research note on Friday, March 2nd. TheStreet cut shares of Global Payments from a b rating to a c rating in a research note on Thursday, May 3rd. Finally, Cowen reissued a buy rating and set a $127.00 price target on shares of Global Payments in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. Global Payments currently has a consensus rating of Buy and an average target price of $112.00.
Shares of Global Payments opened at $111.49 on Wednesday, MarketBeat.com reports. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.32 and a beta of 1.11. Global Payments has a 1-year low of $87.86 and a 1-year high of $119.69.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, May 3rd. The business services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $924.30 million for the quarter, compared to analysts’ expectations of $914.06 million. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. equities analysts anticipate that Global Payments will post 4.87 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were issued a $0.01 dividend. The ex-dividend date was Thursday, June 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 2.99%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction on Monday, June 18th. The shares were sold at an average price of $116.24, for a total value of $69,744.00. Following the sale, the director now directly owns 45,469 shares in the company, valued at $5,285,316.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ruth Ann Marshall sold 6,250 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $114.03, for a total transaction of $712,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,629 shares of company stock worth $3,230,896. Company insiders own 0.98% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in Global Payments by 32.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,494 shares of the business services provider’s stock worth $350,000 after purchasing an additional 859 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Global Payments by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,499 shares of the business services provider’s stock worth $2,657,000 after acquiring an additional 3,792 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Global Payments by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,552,480 shares of the business services provider’s stock worth $255,861,000 after acquiring an additional 137,628 shares during the period. Prana Capital Management LP acquired a new stake in shares of Global Payments during the fourth quarter worth $8,044,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Global Payments by 8.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock worth $654,000 after acquiring an additional 443 shares during the period. Institutional investors own 96.30% of the company’s stock.
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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