Q3 2018 EPS Estimates for Global Payments Inc Lowered by Analyst (GPN)
Global Payments Inc (NYSE:GPN) – Stock analysts at Piper Jaffray Companies reduced their Q3 2018 EPS estimates for Global Payments in a research note issued on Thursday, October 11th. Piper Jaffray Companies analyst J. Deleeuw now anticipates that the business services provider will post earnings per share of $1.33 for the quarter, down from their previous forecast of $1.35. Piper Jaffray Companies also issued estimates for Global Payments’ Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $4.87 EPS, Q2 2019 earnings at $1.41 EPS, Q3 2019 earnings at $1.56 EPS and Q4 2019 earnings at $1.54 EPS.
GPN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research note on Wednesday, June 27th. Cfra reissued a “hold” rating and issued a $119.00 price target on shares of Global Payments in a research report on Thursday, August 2nd. ValuEngine raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Deutsche Bank boosted their price target on shares of Global Payments to $140.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, Morgan Stanley boosted their price target on shares of Global Payments from $124.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and an average target price of $119.58.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 2nd. The business services provider reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.07. The firm had revenue of $982.50 million for the quarter, compared to analysts’ expectations of $968.75 million. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share.
Institutional investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new position in Global Payments in the 1st quarter worth approximately $2,063,000. Davy Asset Management Ltd purchased a new position in Global Payments in the 2nd quarter worth approximately $648,000. Stephens Investment Management Group LLC grew its stake in Global Payments by 7.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 47,612 shares of the business services provider’s stock worth $5,240,000 after buying an additional 3,408 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in Global Payments by 252.8% in the 2nd quarter. Temasek Holdings Private Ltd now owns 876,176 shares of the business services provider’s stock worth $97,685,000 after buying an additional 627,814 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Global Payments by 8.5% in the 2nd quarter. Bank of America Corp DE now owns 1,192,076 shares of the business services provider’s stock worth $132,905,000 after buying an additional 93,698 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the sale, the insider now owns 189,083 shares of the company’s stock, valued at approximately $24,161,025.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $128.76, for a total transaction of $531,135.00. Following the sale, the director now directly owns 83,024 shares in the company, valued at approximately $10,690,170.24. The disclosure for this sale can be found here. Insiders have sold a total of 89,830 shares of company stock worth $11,410,834 in the last ninety days. 0.98% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued 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 was Thursday, September 13th. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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