Global Payments (NYSE:GPN) Stock Price Expected to Rise, Truist Financial Analyst Says

Global Payments (NYSE:GPN - Free Report) had its price objective lifted by Truist Financial from $79.00 to $83.00 in a research report sent to investors on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the business services provider's stock.

Several other analysts also recently issued reports on the company. Williams Trading set a $75.00 target price on Global Payments in a research note on Friday, April 18th. Royal Bank Of Canada downgraded Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price on the stock. in a research note on Friday, April 25th. Evercore ISI initiated coverage on Global Payments in a research note on Wednesday, April 9th. They set an "in-line" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Global Payments from $115.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $111.55.

Global Payments Stock Performance

NYSE:GPN traded up $0.41 on Thursday, hitting $83.07. The stock had a trading volume of 2,697,761 shares, compared to its average volume of 2,506,310. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The business's 50-day simple moving average is $78.65 and its two-hundred day simple moving average is $90.87. Global Payments has a 52-week low of $65.93 and a 52-week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $2.59 earnings per share. The business's revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts predict that Global Payments will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, June 13th. Global Payments's dividend payout ratio is 16.13%.

Institutional Investors Weigh In On Global Payments

Hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in shares of Global Payments in the 4th quarter worth $28,000. NBC Securities Inc. bought a new position in shares of Global Payments in the 1st quarter worth $30,000. True Wealth Design LLC bought a new position in shares of Global Payments in the 4th quarter worth $40,000. Larson Financial Group LLC raised its position in shares of Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after acquiring an additional 317 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Global Payments in the 1st quarter worth $37,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.