Global Payments (NYSE:GPN) Price Target Raised to $90.00

Key Points

• Global Payments' price target was raised from $85.00 to $90.00 by Evercore ISI, indicating a potential upside of 9.91% from its current price.
• Other analysts, including JPMorgan and UBS, have also increased their price targets, with estimates ranging from $93.00 to $95.00, while Wall Street Zen upgraded the stock to a "buy" rating.
• Global Payments reported $3.10 earnings per share for the last quarter, surpassing expectations, as their revenue increased by 1.6% year-over-year.

Global Payments (NYSE:GPN - Get Free Report) had its price objective increased by analysts at Evercore ISI from $85.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "in-line" rating on the business services provider's stock. Evercore ISI's price target would suggest a potential upside of 9.91% from the company's current price.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday. B. Riley reiterated a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. UBS Group increased their price objective on Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, Mizuho upgraded Global Payments from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $86.00 to $114.00 in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $112.21.

Global Payments Stock Down 4.3%

Shares of Global Payments stock opened at $81.89 on Friday. Global Payments has a 1 year low of $65.93 and a 1 year high of $120.00. The business has a 50-day moving average of $79.69 and a two-hundred day moving average of $87.97. The company has a market capitalization of $19.97 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company earned $2.93 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Global Payments will post 11.89 EPS for the current year.

Institutional Trading of Global Payments

A number of hedge funds have recently made changes to their positions in GPN. Optiver Holding B.V. acquired a new stake in Global Payments during the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new stake in Global Payments during the 1st quarter worth approximately $30,000. LRI Investments LLC lifted its holdings in Global Payments by 53.4% during the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider's stock worth $31,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after purchasing an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Global Payments during the 1st quarter worth approximately $37,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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.

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