Global Payments (NYSE:GPN) Now Covered by Truist Financial

Truist Financial began coverage on shares of Global Payments (NYSE:GPN) in a report published on Monday, MarketBeat reports. The firm issued a hold rating and a $79.00 price objective on the business services provider’s stock.

Several other brokerages also recently weighed in on GPN. Bank of America dropped their price objective on Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Wolfe Research reaffirmed a “peer perform” rating on shares of Global Payments in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Global Payments from $115.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Morgan Stanley lowered their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their target price on Global Payments from $78.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.91.

Global Payments Stock Performance

NYSE:GPN opened at $74.88 on Monday. The stock has a fifty day moving average price of $80.83 and a 200-day moving average price of $98.96. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. Global Payments has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN) last released its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $2.59 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Global Payments will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 13th. Global Payments’s dividend payout ratio is currently 16.13%.

Hedge Funds Weigh In On Global Payments

Hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. purchased a new position in shares of Global Payments in the fourth quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments in the first quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments in the fourth quarter valued at $37,000. Larson Financial Group LLC grew its position in shares of Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 317 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Global Payments in the first quarter valued at $37,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.