Global Payments (GPN) Rating Lowered to Neutral at Guggenheim

Global Payments (NYSE:GPN) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Global Payments from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Cantor Fitzgerald raised their price objective on Global Payments from $136.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. BMO Capital Markets raised their price objective on Global Payments from $139.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday. KeyCorp raised their price objective on Global Payments from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. Finally, Morgan Stanley raised their price objective on Global Payments from $124.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $120.83.

GPN stock opened at $114.57 on Monday. Global Payments has a twelve month low of $95.32 and a twelve month high of $129.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $18.13 billion, a PE ratio of 28.57, a P/E/G ratio of 1.35 and a beta of 1.18.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The business had revenue of $857.70 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $1.15 earnings per share. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. On average, analysts anticipate that Global Payments will post 4.87 EPS for the current year.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $116.07, for a total value of $362,718.75. Following the sale, the director now directly owns 80,324 shares in the company, valued at $9,323,206.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the sale, the director now owns 83,024 shares in the company, valued at $10,690,170.24. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock worth $11,773,553 over the last quarter. 0.98% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Global Payments by 12.5% during the second quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock valued at $1,082,860,000 after purchasing an additional 1,082,153 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Global Payments by 36.5% during the second quarter. Janus Henderson Group PLC now owns 3,501,061 shares of the business services provider’s stock valued at $390,333,000 after purchasing an additional 935,336 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Global Payments by 7.3% during the third quarter. Frontier Capital Management Co. LLC now owns 1,936,436 shares of the business services provider’s stock valued at $246,702,000 after purchasing an additional 132,080 shares in the last quarter. Northern Trust Corp raised its stake in shares of Global Payments by 1.3% during the second quarter. Northern Trust Corp now owns 1,769,690 shares of the business services provider’s stock valued at $197,302,000 after purchasing an additional 23,183 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Global Payments by 8.5% during the second quarter. Bank of America Corp DE now owns 1,192,076 shares of the business services provider’s stock valued at $132,905,000 after purchasing an additional 93,698 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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