Cantor Fitzgerald Reaffirms “Overweight” Rating for Global Payments Inc (GPN)
“GPN releases pro forma 2016 numbers. On January 1st, Global Payments converted to calendar year reporting from its prior fiscal year reporting which historically had ended in May. GPN has published a modified 10-K for the seven months ended December 31, 2016 and pro forma 2016 trended full year financials (Click Here for 10K).”,” the firm’s analyst commented.
Several other equities analysts have also recently issued reports on GPN. Zacks Investment Research cut shares of Global Payments from a buy rating to a hold rating in a research note on Wednesday, November 16th. Royal Bank of Canada restated an outperform rating and set a $88.00 target price (up previously from $87.00) on shares of Global Payments in a research note on Tuesday, January 10th. Evercore ISI restated a buy rating and set a $96.00 target price on shares of Global Payments in a research note on Tuesday, January 10th. Guggenheim assumed coverage on shares of Global Payments in a research note on Monday, December 19th. They set a buy rating and a $82.00 target price on the stock. Finally, Oppenheimer Holdings Inc. restated an outperform rating and set a $88.00 target price (up previously from $85.00) on shares of Global Payments in a research note on Wednesday, January 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $83.26.
Shares of Global Payments (NYSE:GPN) traded down 0.52% during trading on Wednesday, reaching $79.61. 40,808 shares of the company traded hands. The company’s 50-day moving average price is $78.86 and its 200-day moving average price is $74.89. Global Payments has a 52 week low of $58.54 and a 52 week high of $81.56. The company has a market capitalization of $12.12 billion, a P/E ratio of 57.31 and a beta of 1.05.
Global Payments (NYSE:GPN) last posted its earnings results on Monday, January 9th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The business had revenue of $817.20 million for the quarter. Global Payments had a net margin of 7.28% and a return on equity of 19.50%. Global Payments’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 EPS. Equities research analysts forecast that Global Payments will post $3.45 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend was Wednesday, February 8th. Global Payments’s dividend payout ratio is 2.41%.
In related news, Director Robert H. B. Baldwin, Jr. sold 21,000 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $80.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now directly owns 305,752 shares of the company’s stock, valued at approximately $24,460,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $79.05, for a total transaction of $47,430.00. Following the completion of the sale, the director now directly owns 41,411 shares of the company’s stock, valued at $3,273,539.55. The disclosure for this sale can be found here. Insiders sold a total of 43,965 shares of company stock valued at $3,496,640 over the last three months. 1.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in GPN. Gulf International Bank UK Ltd raised its stake in Global Payments by 0.4% in the third quarter. Gulf International Bank UK Ltd now owns 46,791 shares of the company’s stock valued at $3,591,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. raised its stake in Global Payments by 3.9% in the third quarter. Capstone Asset Management Co. now owns 9,517 shares of the company’s stock valued at $731,000 after buying an additional 359 shares in the last quarter. Creative Planning raised its stake in Global Payments by 358.0% in the third quarter. Creative Planning now owns 47,099 shares of the company’s stock valued at $3,615,000 after buying an additional 36,816 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Global Payments by 10.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 39,537 shares of the company’s stock valued at $3,035,000 after buying an additional 3,809 shares in the last quarter. Finally, Triangle Securities Wealth Management purchased a new stake in Global Payments during the third quarter valued at about $200,000. 97.82% of the stock is owned by institutional investors.
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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