Global Payments Inc. (NYSE:GPN) – Stock analysts at Wedbush decreased their FY2017 EPS estimates for shares of Global Payments in a research report issued to clients and investors on Wednesday. Wedbush analyst M. Katri now expects that the brokerage will post earnings per share of $3.25 for the year, down from their previous forecast of $3.32. Wedbush has a “Outperform” rating and a $85.00 price objective on the stock.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The company had revenue of $939.50 million for the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share.
Other analysts have also recently issued research reports about the company. Deutsche Bank AG restated a “buy” rating and issued a $79.00 price target (up previously from $72.00) on shares of Global Payments in a report on Tuesday, July 12th. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Wednesday, June 29th. Nomura lifted their price target on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Barclays PLC lifted their price target on Global Payments from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research note on Friday, October 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $77.92.
Shares of Global Payments (NYSE:GPN) traded up 0.16% during trading on Monday, reaching $73.82. 1,003,938 shares of the company’s stock traded hands. The stock has a market capitalization of $11.35 billion, a PE ratio of 37.99 and a beta of 1.09. The company has a 50 day moving average price of $75.87 and a 200 day moving average price of $74.34. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. Global Payments’s payout ratio is currently 2.06%.
In other Global Payments news, COO David E. Mangum sold 8,400 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $74.71, for a total transaction of $627,564.00. Following the completion of the transaction, the chief operating officer now owns 172,060 shares in the company, valued at approximately $12,854,602.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $76.61, for a total value of $497,965.00. Following the transaction, the director now owns 362,063 shares of the company’s stock, valued at approximately $27,737,646.43. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Global Payments by 7.2% in the second quarter. FMR LLC now owns 15,448,116 shares of the company’s stock worth $1,102,686,000 after buying an additional 1,033,050 shares during the period. Vanguard Group Inc. raised its position in shares of Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares during the period. Wellington Management Group LLP raised its position in shares of Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock worth $783,456,000 after buying an additional 8,333,396 shares during the period. State Street Corp raised its position in shares of Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares during the period. Institutional investors own 96.56% 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 in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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