SunTrust Banks Raises Global Payments (GPN) Price Target to $155.00

Global Payments (NYSE:GPN) had its target price hoisted by SunTrust Banks to $155.00 in a research note issued to investors on Tuesday, April 16th, The Fly reports. SunTrust Banks currently has a buy rating on the business services provider’s stock. SunTrust Banks also issued estimates for Global Payments’ Q1 2019 earnings at $1.24 EPS, Q2 2019 earnings at $1.43 EPS, Q3 2019 earnings at $1.63 EPS, Q4 2019 earnings at $1.36 EPS and FY2019 earnings at $5.69 EPS.

GPN has been the topic of a number of other research reports. Nomura lifted their price objective on shares of Global Payments from $91.00 to $94.00 and gave the stock a reduce rating in a research report on Monday, February 11th. Zacks Investment Research raised shares of Global Payments from a sell rating to a hold rating in a research report on Wednesday, February 6th. TheStreet raised shares of Global Payments from a c rating to a b- rating in a research report on Wednesday, February 13th. KeyCorp cut their price objective on shares of Global Payments from $135.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday, January 2nd. Finally, Barclays boosted their target price on shares of Global Payments from $133.00 to $145.00 and gave the stock an overweight rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $143.10.

GPN traded up $0.82 on Tuesday, reaching $146.89. 881,935 shares of the company traded hands, compared to its average volume of 843,457. Global Payments has a one year low of $94.81 and a one year high of $147.77. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.48 and a beta of 1.20. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.03 and a quick ratio of 1.03.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Global Payments will post 5.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 13th. Global Payments’s dividend payout ratio is presently 0.77%.

In related news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $121.49, for a total value of $425,215.00. Following the completion of the sale, the director now owns 68,817 shares of the company’s stock, valued at $8,360,577.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cameron M. Bready sold 34,308 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $131.33, for a total transaction of $4,505,669.64. Following the completion of the sale, the insider now directly owns 138,520 shares of the company’s stock, valued at approximately $18,191,831.60. The disclosure for this sale can be found here. Insiders have sold 210,329 shares of company stock valued at $27,306,584 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GPN. Cornerstone Advisors Inc. boosted its stake in Global Payments by 114.9% during the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after buying an additional 108 shares during the period. Berman Capital Advisors LLC boosted its stake in Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock worth $32,000 after buying an additional 181 shares during the period. Ranger Investment Management L.P. purchased a new position in Global Payments during the fourth quarter worth about $26,000. Lindbrook Capital LLC boosted its stake in Global Payments by 171.2% during the first quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock worth $43,000 after buying an additional 202 shares during the period. Finally, Legacy Advisors LLC purchased a new position in Global Payments during the first quarter worth about $44,000. 99.63% of the stock is owned by hedge funds and other institutional investors.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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