Global Payments Inc (NYSE:GPN) announced a quarterly dividend on Tuesday, October 30th, RTT News reports. Shareholders of record on Friday, December 14th will be given a dividend of 0.01 per share by the business services provider on Friday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 13th.
Global Payments has increased its dividend payment by an average of 2.7% per year over the last three years. Global Payments has a payout ratio of 0.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Payments to earn $5.75 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 0.7%.
NYSE GPN opened at $103.84 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.22 and a beta of 1.16. Global Payments has a 12-month low of $98.82 and a 12-month high of $129.25.
A number of research firms have issued reports on GPN. Deutsche Bank boosted their price objective on shares of Global Payments to $140.00 and gave the company a “buy” rating in a report on Friday, September 14th. BMO Capital Markets started coverage on shares of Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price objective for the company. Wedbush boosted their target price on shares of Global Payments from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, August 28th. Robert W. Baird boosted their target price on shares of Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $123.30.
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 completion of the transaction, the insider now directly owns 189,083 shares in the company, valued at approximately $24,161,025.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $109.66, for a total transaction of $76,762.00. Following the transaction, the director now owns 42,169 shares of the company’s stock, valued at $4,624,252.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,899 shares of company stock valued at $9,528,952. 0.98% of the stock is owned by corporate insiders.
About Global Payments
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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