Global Payments (NYSE:GPN) Price Target Raised to $156.00

Posted by MarketBeat News on Aug 5th, 2022

Global Payments (NYSE:GPN – Get Rating) had its target price hoisted by Robert W. Baird from $144.00 to $156.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also issued reports on the stock. Barclays decreased their target price on shares of Global Payments from $182.00 to $160.00 in a research report on Tuesday, May 3rd. The Goldman Sachs Group assumed coverage on shares of Global Payments in a research report on Tuesday, May 17th. They set a neutral rating and a $151.00 target price on the stock. Citigroup decreased their target price on shares of Global Payments from $195.00 to $180.00 in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Global Payments from $222.00 to $188.00 and set a buy rating on the stock in a research report on Tuesday. Finally, Mizuho decreased their target price on shares of Global Payments from $148.00 to $132.00 and set a neutral rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Global Payments currently has a consensus rating of Moderate Buy and an average price target of $175.03.

Global Payments Stock Down 1.2 %

Global Payments stock opened at $128.60 on Tuesday. The stock has a market cap of $36.21 billion, a P/E ratio of 714.48, a P/E/G ratio of 0.78 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 0.87 and a debt-to-equity ratio of 0.45. Global Payments has a twelve month low of $105.52 and a twelve month high of $179.27. The company’s 50-day moving average price is $118.48 and its two-hundred day moving average price is $129.30.

Global Payments (NYSE:GPN – Get Rating) last released its quarterly earnings results on Monday, August 1st. The business services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.02. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 EPS. As a group, analysts expect that Global Payments will post 9.05 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, September 15th. Global Payments’s payout ratio is currently 555.59%.

Global Payments declared that its board has initiated a stock buyback plan on Monday, August 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP David Lawrence Green sold 16,252 shares of Global Payments stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the transaction, the executive vice president now owns 97,818 shares of the company’s stock, valued at $12,726,121.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently bought and sold shares of the company. MUFG Americas Holdings Corp acquired a new stake in Global Payments in the first quarter worth $25,000. Bell Investment Advisors Inc grew its holdings in Global Payments by 128.6% in the fourth quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock worth $26,000 after purchasing an additional 108 shares during the period. MCF Advisors LLC acquired a new stake in Global Payments in the first quarter worth $27,000. Hazlett Burt & Watson Inc. acquired a new stake in Global Payments in the first quarter worth $27,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Global Payments in the fourth quarter worth $29,000. Institutional investors own 84.53% of the company’s stock.

About Global Payments

(Get Rating)

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.