Global Payments (NYSE:GPN) Price Target Lowered to $165.00 at Monness Crespi & Hardt

Global Payments (NYSE:GPN) had its target price cut by Monness Crespi & Hardt from $175.00 to $165.00 in a report published on Friday morning, Marketbeat Ratings reports. They currently have a buy rating on the business services provider’s stock.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Global Payments from $143.00 to $128.00 and set a market perform rating for the company in a research note on Thursday. Susquehanna decreased their target price on Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a research report on Thursday. StockNews.com cut Global Payments from a buy rating to a hold rating in a report on Thursday. TD Cowen lowered their price objective on Global Payments from $160.00 to $152.00 and set a buy rating on the stock in a research report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Global Payments from $160.00 to $164.00 and gave the company an overweight rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $150.00.

Global Payments Stock Performance

GPN stock traded up $0.83 during trading hours on Friday, reaching $111.37. The stock had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. The stock has a market capitalization of $28.43 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.97. The stock has a 50-day simple moving average of $127.93 and a 200 day simple moving average of $124.72. Global Payments has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.99.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company posted $2.30 earnings per share. Global Payments’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Global Payments will post 10.94 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is currently 19.84%.

Institutional Trading of Global Payments

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneva Capital Management LLC lifted its position in shares of Global Payments by 13.8% in the 1st quarter. Geneva Capital Management LLC now owns 159,951 shares of the business services provider’s stock worth $21,379,000 after purchasing an additional 19,381 shares during the period. Rehmann Capital Advisory Group acquired a new position in Global Payments in the first quarter valued at $222,000. GSA Capital Partners LLP bought a new stake in Global Payments during the first quarter valued at $1,716,000. Central Pacific Bank Trust Division acquired a new stake in Global Payments during the 1st quarter worth about $399,000. Finally, Whittier Trust Co. raised its position in shares of Global Payments by 10.4% in the 1st quarter. Whittier Trust Co. now owns 3,174 shares of the business services provider’s stock worth $424,000 after acquiring an additional 298 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.