Global Payments Inc (NYSE:GPN)’s share price reached a new 52-week high on Thursday after Robert W. Baird raised their price target on the stock from $160.00 to $174.00. Robert W. Baird currently has an outperform rating on the stock. Global Payments traded as high as $152.24 and last traded at $151.96, with a volume of 456619 shares traded. The stock had previously closed at $147.67.
A number of other brokerages have also recently commented on GPN. BMO Capital Markets cut shares of Global Payments from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $164.00 to $173.00 in a research note on Wednesday. Oppenheimer increased their price objective on shares of Global Payments from $152.00 to $161.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim raised shares of Global Payments from a “neutral” rating to a “buy” rating in a research note on Thursday. Susquehanna Bancshares raised shares of Global Payments from a “neutral” rating to a “positive” rating and increased their price objective for the company from $130.00 to $170.00 in a research note on Tuesday, May 7th. Finally, Morgan Stanley increased their price objective on shares of Global Payments from $128.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $146.31.
In other news, Director Alan M. Silberstein sold 4,276 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total transaction of $566,270.68. Following the transaction, the director now directly owns 51,049 shares in the company, valued at approximately $6,760,419.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total transaction of $622,030.00. Following the transaction, the director now owns 48,382 shares in the company, valued at $7,081,189.52. The disclosure for this sale can be found here. Insiders have sold a total of 211,079 shares of company stock worth $27,503,399 over the last ninety days. 0.88% of the stock is owned by corporate insiders.
The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. The firm has a market cap of $23.40 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.51 and a beta of 1.20.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.13 earnings per share. Global Payments’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Global Payments Inc will post 5.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given 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 13th. Global Payments’s dividend payout ratio (DPR) is 0.77%.
Global Payments Company Profile (NYSE:GPN)
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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