Global Payments (NYSE:GPN) Given New $145.00 Price Target at Barclays

Global Payments (NYSE:GPN) had its price objective reduced by Barclays from $160.00 to $145.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other research firms have also issued reports on GPN. TD Cowen reduced their price target on shares of Global Payments from $160.00 to $152.00 and set a buy rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Global Payments from $145.00 to $159.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Susquehanna lowered their price target on shares of Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a report on Thursday. B. Riley lifted their price objective on Global Payments from $180.00 to $186.00 and gave the company a buy rating in a research note on Monday, February 5th. Finally, Evercore ISI decreased their price objective on Global Payments from $185.00 to $180.00 and set an outperform rating for the company in a report on Thursday, February 15th. One equities 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.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $150.00.

Global Payments Price Performance

NYSE GPN opened at $111.37 on Thursday. The stock’s fifty day moving average price is $127.50 and its 200 day moving average price is $124.82. Global Payments has a 1 year low of $95.12 and a 1 year 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. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the company earned $2.30 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Global Payments will post 10.95 earnings per share for the current year.

Global Payments Announces Dividend

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

Institutional Trading of Global Payments

A number of institutional investors have recently made changes to their positions in the company. Geneva Capital Management LLC raised its stake in 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 valued at $21,379,000 after purchasing an additional 19,381 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Global Payments in the first quarter valued at about $222,000. GSA Capital Partners LLP purchased a new position in shares of Global Payments in the first quarter worth about $1,716,000. Central Pacific Bank Trust Division acquired a new position in Global Payments during the first quarter worth about $399,000. Finally, Whittier Trust Co. grew its stake in 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 acquiring an additional 298 shares in the last quarter. 89.76% of the stock is 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.