Global Payments Inc. (NYSE:GPN) announced its quarterly earnings data on Wednesday. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The firm had revenue of $939.50 million for the quarter, compared to analyst estimates of $814.12 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. Global Payments updated its FY17 guidance to $3.45-3.55 EPS.
Shares of Global Payments (NYSE:GPN) opened at 79.04 on Thursday. Global Payments has a one year low of $51.29 and a one year high of $79.93. The stock has a market capitalization of $12.14 billion, a P/E ratio of 38.75 and a beta of 1.09. The company’s 50 day moving average price is $75.71 and its 200 day moving average price is $73.87.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Global Payments’s payout ratio is currently 1.95%.
In other news, insider David E. Mangum sold 88,938 shares of Global Payments stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the transaction, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the transaction, the director now owns 44,716 shares in the company, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GPN. Acrospire Investment Management LLC increased its position in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc increased its position in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares in the last quarter. PineBridge Investments L.P. acquired a new position in shares of Global Payments during the second quarter worth $139,000. IFP Advisors Inc increased its position in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock worth $162,000 after buying an additional 636 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Global Payments during the second quarter worth $168,000. Institutional investors and hedge funds own 96.56% of the company’s stock.
A number of brokerages recently weighed in on GPN. Barclays PLC upped their price objective on Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, September 30th. Nomura upped their target price on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a report on Wednesday, September 28th. Robert W. Baird reissued an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a report on Tuesday, September 6th. Finally, Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Global Payments currently has an average rating of “Buy” and an average target price of $77.75.
Global Payments Company Profile
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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