Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Global Payments Inc (NYSE: GPN) today and set a price target of $126. The company’s shares opened today at $111.10.
Foresi noted:
“1Q18 revenues above street expectations, and adjusted EPS beats consensus. Global Payments reported 1Q18 adjusted revenue of $924 mn, a 17.3% y/y increase (double-digit organic), above our estimate of $904 mn and the FactSet consensus of the $914 mn. Adjusted operating margins increased 140 bps annually to 30.4%. Adjusted EPS was $1.13, vs. our estimate of $1.07 and the consensus of $1.06, representing 33% y/y growth. See pg. 3 for our Performance Table.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 16.2% and a 80.2% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Global Payments Inc is Strong Buy and the average price target is $125.81, representing a 13.2% upside.
In a report issued on April 18, Credit Suisse also maintained a Buy rating on the stock with a $125 price target.
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Global Payments Inc’s market cap is currently $17.92B and has a P/E ratio of 37.78. The company has a book value ratio of 4.7223.
Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is negative on the stock.
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Global Payments, Inc. engages in the provision of payment technology services. It operates through the following segments: North America, Europe, and Asia-Pacific. The North America segment offers numerous services and solutions, including: restaurant, hospitality, retail, convenience stores and petroleum, professional services, automotive, and lodging.
