Global Payments Inc (NYSE:GPN) announced a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Friday, March 13th will be paid a dividend of 0.195 per share by the business services provider on Friday, March 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from Global Payments’s previous quarterly dividend of $0.01.
Global Payments has increased its dividend by an average of 196.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Global Payments has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Payments to earn $7.26 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 10.7%.
Shares of NYSE:GPN opened at $202.73 on Friday. The stock has a market capitalization of $61.50 billion, a PE ratio of 81.42, a P/E/G ratio of 1.56 and a beta of 1.00. Global Payments has a 1 year low of $120.20 and a 1 year high of $206.18. The firm has a fifty day moving average price of $194.12 and a 200 day moving average price of $174.32. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.11. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. Global Payments’s revenue for the quarter was up 125.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts forecast that Global Payments will post 5.83 earnings per share for the current fiscal year.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $193.70, for a total transaction of $116,220.00. Following the sale, the director now directly owns 26,588 shares of the company’s stock, valued at $5,150,095.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joia M. Johnson acquired 560 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $178.45 per share, for a total transaction of $99,932.00. Following the completion of the purchase, the director now directly owns 2,347 shares of the company’s stock, valued at approximately $418,822.15. The disclosure for this purchase can be found here. 0.88% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on GPN. Susquehanna Bancshares upped their price objective on shares of Global Payments from to and gave the stock a “buy” rating in a report on Thursday. Oppenheimer reiterated a “buy” rating and issued a $220.00 price objective on shares of Global Payments in a report on Wednesday. Credit Suisse Group began coverage on shares of Global Payments in a report on Thursday, January 23rd. They issued an “outperform” rating and a $230.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Global Payments from $162.00 to $186.00 and gave the stock a “market perform” rating in a report on Monday, November 4th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald boosted their target price on shares of Global Payments from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have assigned a buy rating to the company. Global Payments currently has a consensus rating of “Buy” and an average target price of $204.18.
Global Payments Company Profile
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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