Get Stock Quote Here Global Payments Inc. (GPN) is a provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management.
Global Payments Beats Strong Dollar With Strong Earnings, Guidance Card-processing and payment-technology giant Global Payments (GPN) on Wednesday spiked after strong third-quarter earnings on strength in North America and Europe despite a tough foreign-exchange environment. Heartland Payment Systems (HPY), a rival payment processor that Global Payments agreed to buy in December, surged 4% to a new high. Global Payments bumped its full-year EPS forecast to $2.93-$3.00, up from $2.90-$3.00. The new midpoint is above consensus views for $2.94, largely due to Q3’s better-than-expected result. Third-quarter EPS rose 17% to 70 cents, topping expectations for 67 cents. Adjusted net revenue increased 6% to $497 million, above views for $493 million. Sales rose 11% on a constant-currency basis. Some 2 million locations across 29 countries use Global Payments’ products. The company provides payment processing for merchants, serving as an intermediary between businesses and banks. Shares rose 8.8% to 70.86 on the stock market today, climbing their way through a cup base formed in December with a 74.74 buy point. That consolidation began after Global Payments announced plans to buy Heartland, potentially expanding Global’s access in payment solutions for smaller businesses and in sectors as varied as education and correctional facilities. But there was some sense on the Street that Global Payments had paid too much. In its statement Wednesday, Global Payments’ Chief Executive Officer Jeff Sloan said, “We are delighted with the progress we have made on the partnership with Heartland Payment Systems and look forward to closing the transaction later this month.” As more people do business over phones or tablets, and e-commerce becomes the norm, the payments industry has tried to broaden its reach and become more digitally focused, often through acquisitions. Global Payments has expanded international support for Apple (AAPL) Pay, Alphabet (GOOGL) Android Pay and Samsung Pay in recent months. Total System Services (TSS), another payment processor, climbed 1.2%. Card giant Visa (V) advanced 1.6%, while MasterCard (MA) eked out a 0.4% gain. Apple rose 1.05% and Alphabet 1.25%. LINK - http://www.investors.com/news/global-payments-beats-strong-dollar-boosts-guidance-q3-tops/
Analyst Upgrade/Downgrade Update Brokerage firm: Compass Point Change: Upgrade Previous Rating: Neutral Current Rating: Buy Previous Price Target: N/A Current Price Target: $77
Expensive stock. Just reported earnings and they put on an optimistic face, but volume today is only 8% above normal. This quarter trading saw the two days with biggest volume have big topping tails.
