Global Payments Inc (NYSE:GPN) has been given an average recommendation of “Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $112.76.
Several research firms have recently weighed in on GPN. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Cowen reissued a “buy” rating and set a $127.00 price objective on shares of Global Payments in a report on Thursday, March 1st. SunTrust Banks reissued a “buy” rating and set a $130.00 price objective on shares of Global Payments in a report on Friday, February 16th. Citigroup lifted their price objective on shares of Global Payments from $122.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Barclays lifted their price objective on shares of Global Payments to $128.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. They noted that the move was a valuation call.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Friday, May 18th. The shares were sold at an average price of $114.00, for a total value of $68,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alan M. Silberstein sold 5,300 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $118.20, for a total transaction of $626,460.00. Following the sale, the director now directly owns 46,497 shares in the company, valued at $5,495,945.40. The disclosure for this sale can be found here. Insiders sold 22,048 shares of company stock worth $2,563,468 over the last ninety days. Corporate insiders own 0.98% of the company’s stock.
Shares of Global Payments traded up $0.48, reaching $118.96, during trading on Monday, MarketBeat reports. The company’s stock had a trading volume of 9,424 shares, compared to its average volume of 1,052,408. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. Global Payments has a 12 month low of $87.86 and a 12 month high of $119.65. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.40 and a beta of 1.11.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 3rd. The business services provider reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. The firm had revenue of $924.30 million during the quarter, compared to the consensus estimate of $914.06 million. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities analysts forecast that Global Payments will post 4.87 EPS for the current year.
Global Payments declared that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s dividend payout ratio is currently 1.00%.
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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