Trade Report: The Global Payments Inc. (GPN) Receives Outperform Rating from Oppenheimer Holdings Inc.

The Global Payments Inc. (GPN) Receives Outperform Rating from Oppenheimer Holdings Inc.

Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Friday. They presently have a $85.00 price objective on the stock. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 11.83% from the stock’s previous close.

A number of other brokerages have also issued reports on GPN. Goldman Sachs Group Inc. upgraded shares of Global Payments from a “neutral” rating to a “buy” rating and upped their target price for the stock from $80.00 to $88.00 in a research report on Thursday, September 15th. Barclays PLC reduced their target price on shares of Global Payments from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 7th. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Global Payments in a research report on Thursday, September 8th. Deutsche Bank AG reiterated a “buy” rating and set a $85.00 target price (up from $79.00) on shares of Global Payments in a research report on Thursday. Finally, Nomura increased their price objective on shares of Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $77.92.

Global Payments (NYSE:GPN) opened at 76.01 on Friday. The firm’s 50-day moving average is $75.90 and its 200 day moving average is $74.02. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The stock has a market capitalization of $11.68 billion, a PE ratio of 37.26 and a beta of 1.09.

10/08/global-payments-inc-gpn-receives-outperform-rating-from-oppenheimer-holdings-inc.html

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The company had revenue of $939.50 million for the quarter. During the same quarter in the previous year, the company posted $0.79 earnings per share. Global Payments’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, equities analysts forecast that Global Payments will post $3.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.

In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total transaction of $45,480.00. Following the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at $3,389,472.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the transaction, the director now directly owns 349,063 shares in the company, valued at $26,085,477.99. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in Global Payments by 0.4% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,279 shares of the company’s stock worth $482,000 after buying an additional 25 shares in the last quarter. Ranger Investment Management L.P. raised its position in Global Payments by 0.4% in the second quarter. Ranger Investment Management L.P. now owns 17,030 shares of the company’s stock worth $1,216,000 after buying an additional 60 shares in the last quarter. Fulton Bank raised its position in Global Payments by 1.7% in the fourth quarter. Fulton Bank now owns 9,467 shares of the company’s stock worth $611,000 after buying an additional 155 shares in the last quarter. Commonwealth Equity Services Inc raised its position in Global Payments by 3.2% in the second quarter. Commonwealth Equity Services Inc now owns 5,219 shares of the company’s stock worth $373,000 after buying an additional 162 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Global Payments by 5.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,692 shares of the company’s stock worth $264,000 after buying an additional 176 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

Related posts

Leave a Comment