Global Payments Inc. Plans Quarterly Dividend of $0.25 (NYSE:GPN)

Global Payments Inc. (NYSE:GPN) announced a quarterly dividend on Wednesday, May 7th, Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.25 per share by the business services provider on Friday, June 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, June 13th.

Global Payments has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Payments to earn $13.49 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 7.4%.

Global Payments Trading Up 2.3%

NYSE GPN opened at $80.73 on Wednesday. The business’s fifty day moving average is $78.41 and its 200-day moving average is $97.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.86 and a beta of 0.93. Global Payments has a one year low of $65.93 and a one year high of $120.00.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Equities research analysts predict that Global Payments will post 11.89 EPS for the current year.

Analysts Set New Price Targets

GPN has been the topic of a number of research reports. Royal Bank of Canada cut shares of Global Payments from an “outperform” rating to a “sector perform” rating and set a $86.00 price target on the stock. in a report on Friday, April 25th. Williams Trading set a $75.00 target price on Global Payments in a research note on Friday, April 18th. Cowen cut Global Payments from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Barclays decreased their price objective on Global Payments from $125.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Truist Financial assumed coverage on Global Payments in a research note on Monday, June 2nd. They issued a “hold” rating and a $79.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $110.91.

Institutional Trading of Global Payments

Institutional investors and hedge funds have recently bought and sold shares of the company. Caxton Associates LLP purchased a new position in shares of Global Payments during the 1st quarter valued at $243,000. Brighton Jones LLC purchased a new stake in shares of Global Payments in the fourth quarter worth $725,000. Finally, Intech Investment Management LLC boosted its stake in Global Payments by 43.5% during the first quarter. Intech Investment Management LLC now owns 14,462 shares of the business services provider’s stock valued at $1,416,000 after buying an additional 4,386 shares during the period. 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.