Global Payments Inc. (NYSE:GPN) – Research analysts at Wedbush upped their FY2017 earnings estimates for shares of Global Payments in a research report issued on Wednesday. Wedbush analyst M. Katri now anticipates that the business services provider will post earnings of $3.73 per share for the year, up from their prior estimate of $3.71. Wedbush currently has a “Outperform” rating and a $107.25 target price on the stock.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The company had revenue of $919.76 million during the quarter, compared to the consensus estimate of $767.09 million. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 46.9% on a year-over-year basis.
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GPN has been the subject of a number of other research reports. Barclays PLC upgraded shares of Global Payments from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $88.00 to $92.00 in a report on Thursday, March 30th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a report on Friday, May 5th. Zacks Investment Research downgraded shares of Global Payments from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Credit Suisse Group raised their price objective on shares of Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Global Payments in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $90.28.
Shares of Global Payments (NYSE GPN) traded up 0.46% on Thursday, hitting $94.04. 205,113 shares of the stock were exchanged. The stock’s 50-day moving average is $90.63 and its 200-day moving average is $83.23. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 73.99 and a beta of 1.09. Global Payments has a 1-year low of $64.63 and a 1-year high of $94.12.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a $0.0133 dividend. This is an increase from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date was Wednesday, June 7th. Global Payments’s dividend payout ratio (DPR) is currently 3.45%.
In related news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $85.00, for a total value of $4,250,000.00. Following the sale, the director now directly owns 267,552 shares of the company’s stock, valued at $22,741,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $88.09, for a total transaction of $52,854.00. Following the completion of the sale, the director now directly owns 49,093 shares in the company, valued at $4,324,602.37. The disclosure for this sale can be found here. Insiders sold 70,702 shares of company stock worth $6,147,076 over the last ninety days. 0.93% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in GPN. Point72 Asia Hong Kong Ltd bought a new stake in shares of Global Payments during the first quarter worth $200,000. Triangle Securities Wealth Management bought a new stake in shares of Global Payments during the first quarter worth $204,000. Raymond James Trust N.A. increased its stake in shares of Global Payments by 12.6% in the first quarter. Raymond James Trust N.A. now owns 4,240 shares of the business services provider’s stock worth $342,000 after buying an additional 474 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Global Payments by 9.3% in the first quarter. IFP Advisors Inc now owns 6,420 shares of the business services provider’s stock worth $518,000 after buying an additional 545 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of Global Payments during the first quarter worth $233,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.
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 through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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