BMO Capital Markets Cuts Global Payments (NYSE:GPN) Price Target to $128.00

Global Payments (NYSE:GPN) had its price target lowered by BMO Capital Markets from $143.00 to $128.00 in a research note released on Thursday, Benzinga reports. The firm currently has a market perform rating on the business services provider’s stock.

GPN has been the topic of a number of other research reports. Robert W. Baird dropped their price objective on Global Payments from $182.00 to $150.00 and set an outperform rating on the stock in a report on Thursday. Wedbush raised their price objective on shares of Global Payments from $130.00 to $160.00 and gave the company an outperform rating in a research report on Wednesday, January 10th. Barclays decreased their target price on shares of Global Payments from $170.00 to $160.00 and set an overweight rating on the stock in a report on Tuesday, April 16th. B. Riley raised their price target on shares of Global Payments from $180.00 to $186.00 and gave the company a buy rating in a report on Monday, February 5th. Finally, Royal Bank of Canada upped their price target on shares of Global Payments from $154.00 to $172.00 and gave the stock an outperform rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $150.00.

Global Payments Stock Performance

NYSE GPN traded up $0.83 during trading on Thursday, hitting $111.37. 3,191,218 shares of the company’s stock traded hands, compared to its average volume of 2,029,470. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.92. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.71 and a beta of 0.97. Global Payments has a 12-month low of $95.12 and a 12-month high of $141.77. The business has a 50 day moving average of $127.93 and a 200-day moving average of $124.72.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.64 by $0.01. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the firm earned $2.30 EPS. Global Payments’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Global Payments will post 10.94 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Institutional Investors Weigh In On Global Payments

Large investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new stake in Global Payments during the 3rd quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Global Payments during the fourth quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. bought a new stake in Global Payments in the 4th quarter worth approximately $41,000. West Paces Advisors Inc. raised its stake in Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after buying an additional 178 shares during the period. Institutional investors own 89.76% of the company’s stock.

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.