BMO Capital Markets Lowers Global Payments (NYSE:GPN) Price Target to $128.00

Global Payments (NYSE:GPN) had its price objective lowered by BMO Capital Markets from $143.00 to $128.00 in a report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

GPN has been the topic of several other reports. Wedbush raised their target price on Global Payments from $130.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Robert W. Baird lowered their price target on shares of Global Payments from $182.00 to $150.00 and set an outperform rating for the company in a report on Thursday. B. Riley raised their price target on shares of Global Payments from $180.00 to $186.00 and gave the stock a buy rating in a research report on Monday, February 5th. Evercore ISI cut their price objective on shares of Global Payments from $185.00 to $180.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Finally, Barclays dropped their target price on Global Payments from $170.00 to $160.00 and set an overweight rating for the company in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $150.00.

Global Payments Stock Down 0.4 %

NYSE GPN traded down $0.47 during trading on Thursday, hitting $110.90. 580,098 shares of the company traded hands, compared to its average volume of 2,260,166. Global Payments has a 12 month low of $95.12 and a 12 month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $127.50 and a 200 day simple moving average of $124.82. The company has a market capitalization of $28.31 billion, a P/E ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.01. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.30 earnings per share. As a group, sell-side analysts predict that Global Payments will post 10.95 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued 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 dividend payout ratio (DPR) is presently 19.84%.

Institutional Investors Weigh In On Global Payments

A number of large investors have recently added to or reduced their stakes in the business. Geneva Capital Management LLC increased its holdings in shares of Global Payments by 13.8% during the first quarter. Geneva Capital Management LLC now owns 159,951 shares of the business services provider’s stock valued at $21,379,000 after acquiring an additional 19,381 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Global Payments during the 1st quarter valued at $222,000. GSA Capital Partners LLP bought a new position in Global Payments in the 1st quarter worth about $1,716,000. Central Pacific Bank Trust Division bought a new position in shares of Global Payments during the 1st quarter valued at about $399,000. Finally, Whittier Trust Co. increased its position in shares of Global Payments by 10.4% during the 1st quarter. Whittier Trust Co. now owns 3,174 shares of the business services provider’s stock valued at $424,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

About Global Payments

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.