SunTrust Banks Increases Global Payments (NYSE:GPN) Price Target to $210.00

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Global Payments (NYSE:GPN) had its price objective increased by SunTrust Banks from $190.00 to $210.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a buy rating on the business services provider’s stock. SunTrust Banks also issued estimates for Global Payments’ Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.46 EPS and FY2020 earnings at $7.39 EPS.

Other analysts also recently issued reports about the company. Piper Jaffray Companies set a $195.00 price objective on Global Payments and gave the stock an overweight rating in a research report on Wednesday, July 31st. Oppenheimer raised their price objective on Global Payments from $161.00 to $178.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Deutsche Bank raised their price objective on Global Payments from $162.00 to $182.00 and gave the stock a buy rating in a research report on Friday, July 26th. Robert W. Baird raised their price objective on Global Payments from $174.00 to $182.00 and gave the stock an outperform rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets downgraded Global Payments from an outperform rating to a market perform rating and raised their price objective for the stock from $164.00 to $173.00 in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. Global Payments presently has a consensus rating of Buy and a consensus target price of $167.70.

Shares of GPN opened at $168.03 on Tuesday. Global Payments has a 52-week low of $94.81 and a 52-week high of $175.95. The company has a market capitalization of $25.89 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The stock has a fifty day simple moving average of $163.30 and a two-hundred day simple moving average of $151.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Global Payments had a return on equity of 20.36% and a net margin of 13.62%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. As a group, equities analysts anticipate that Global Payments will post 5.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s dividend payout ratio is currently 0.77%.

In other Global Payments news, Director William I. Jacobs sold 10,980 shares of Global Payments stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $175.27, for a total value of $1,924,464.60. Following the completion of the transaction, the director now directly owns 40,568 shares of the company’s stock, valued at approximately $7,110,353.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Ann Marshall sold 5,000 shares of Global Payments stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $160.24, for a total value of $801,200.00. Following the completion of the transaction, the director now owns 43,677 shares of the company’s stock, valued at approximately $6,998,802.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,710 shares of company stock valued at $5,556,969. 0.88% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lenox Wealth Advisors LLC purchased a new position in shares of Global Payments in the 2nd quarter valued at about $25,000. Next Capital Management LLC purchased a new position in shares of Global Payments in the 2nd quarter valued at about $25,000. Citizens Financial Group Inc RI purchased a new position in shares of Global Payments in the 2nd quarter valued at about $27,000. Cornerstone Advisors Inc. boosted its stake in shares of Global Payments by 114.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after buying an additional 108 shares during the period. Finally, Berman Capital Advisors LLC boosted its stake in shares of Global Payments by 317.5% in the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 97.07% of the company’s stock.

About Global Payments

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Analyst Recommendations for Global Payments (NYSE:GPN)

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