Truist Financial Initiates Coverage on Global Payments (NYSE:GPN)

Truist Financial started coverage on shares of Global Payments (NYSE:GPN - Free Report) in a research note released on Monday morning, Marketbeat reports. The firm issued a hold rating and a $79.00 price target on the business services provider's stock.

A number of other brokerages have also recently commented on GPN. Keefe, Bruyette & Woods raised their price target on shares of Global Payments from $78.00 to $81.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Evercore ISI assumed coverage on Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. KeyCorp raised their price target on Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.91.

Global Payments Stock Performance

Shares of NYSE GPN traded down $0.20 during mid-day trading on Monday, hitting $76.49. The company had a trading volume of 511,193 shares, compared to its average volume of 2,464,169. Global Payments has a 12 month low of $65.93 and a 12 month high of $120.00. The firm has a market cap of $18.65 billion, a P/E ratio of 12.38, a PEG ratio of 0.86 and a beta of 0.96. The business's 50-day simple moving average is $79.94 and its 200-day simple moving average is $98.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Global Payments's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 EPS. As a group, analysts predict that Global Payments will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

Hedge Funds Weigh In On Global Payments

Several large investors have recently modified their holdings of GPN. Private Trust Co. NA raised its holdings in Global Payments by 11.2% during the 4th quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock valued at $111,000 after acquiring an additional 100 shares during the period. Truvestments Capital LLC grew its stake in Global Payments by 2.9% during the fourth quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock valued at $413,000 after acquiring an additional 103 shares in the last quarter. Greenleaf Trust increased its holdings in Global Payments by 5.9% during the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock worth $232,000 after acquiring an additional 115 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Global Payments by 1.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after purchasing an additional 117 shares during the period. Finally, Y.D. More Investments Ltd grew its position in shares of Global Payments by 1.8% during the 4th quarter. Y.D. More Investments Ltd now owns 6,949 shares of the business services provider's stock valued at $779,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

About Global Payments

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.