Global Payments' (GPN) Sector Perform Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has increased the price target for Global Payments from $86.00 to $93.00, indicating a potential upside of 12.13% from its current price.
• The stock has garnered a consensus rating of “Hold” from analysts, with 12 offering a buy rating and 17 assigning it a hold, as well as one sell rating.
• Global Payments reported earnings of $3.10 per share for the last quarter, exceeding estimates slightly and showing a 1.6% year-over-year revenue increase.

Global Payments (NYSE:GPN - Get Free Report)'s stock had its "sector perform" rating reiterated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $93.00 target price on the business services provider's stock, up from their prior target price of $86.00. Royal Bank Of Canada's price objective points to a potential upside of 13.39% from the company's current price.

A number of other equities analysts have also recently commented on GPN. Keefe, Bruyette & Woods raised their target price on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Wolfe Research restated a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Wells Fargo & Company decreased their price objective on Global Payments from $105.00 to $77.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird cut their price target on Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. One investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $112.21.

Global Payments Trading Down 0.0%

NYSE:GPN traded down $0.00 during trading hours on Thursday, hitting $82.02. The company had a trading volume of 759,630 shares, compared to its average volume of 2,806,196. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $79.69 and a 200 day moving average of $87.97. The company has a market cap of $20.00 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.82 and a beta of 0.93. Global Payments has a 1 year low of $65.93 and a 1 year high of $120.00.

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

Institutional Investors Weigh In On Global Payments

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Global Payments by 120.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,467 shares of the business services provider's stock valued at $20,768,000 after purchasing an additional 142,005 shares in the last quarter. National Pension Service boosted its holdings in Global Payments by 0.7% during the second quarter. National Pension Service now owns 400,720 shares of the business services provider's stock valued at $32,074,000 after purchasing an additional 2,869 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Global Payments by 2.7% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 376,398 shares of the business services provider's stock valued at $30,127,000 after purchasing an additional 10,009 shares in the last quarter. Samalin Investment Counsel LLC boosted its holdings in Global Payments by 4.8% during the second quarter. Samalin Investment Counsel LLC now owns 4,308 shares of the business services provider's stock valued at $345,000 after purchasing an additional 197 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its holdings in Global Payments by 31.5% during the second quarter. Prescott Group Capital Management L.L.C. now owns 59,805 shares of the business services provider's stock valued at $4,787,000 after purchasing an additional 14,310 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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.