Global Payments (NYSE:GPN) Hits New 1-Year Low - Here's What Happened

Global Payments Inc. (NYSE:GPN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $77.83 and last traded at $90.55, with a volume of 4636388 shares trading hands. The stock had previously closed at $79.47.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays decreased their target price on Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group restated a "neutral" rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a research report on Thursday, January 9th. Morgan Stanley lowered their price target on Global Payments from $166.00 to $163.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $140.00 to $135.00 and set an "outperform" rating for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $129.81.

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Global Payments Stock Up 0.8 %

The firm has a 50-day simple moving average of $98.06 and a 200 day simple moving average of $105.60. The company has a market capitalization of $21.08 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. 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 issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.14). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. On average, research analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Global Payments's dividend payout ratio is currently 16.18%.

Institutional Trading of Global Payments

Several large investors have recently modified their holdings of the business. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the third quarter valued at about $25,000. Optiver Holding B.V. acquired a new stake in shares of Global Payments during the fourth quarter worth approximately $28,000. NBC Securities Inc. bought a new stake in shares of Global Payments in the first quarter worth $30,000. Whipplewood Advisors LLC acquired a new stake in Global Payments in the fourth quarter valued at $37,000. Finally, Quintet Private Bank Europe S.A. bought a new position in Global Payments during the 4th quarter valued at $38,000. 89.76% of the stock is currently 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.