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GPN

Global Payments

$78.99

2.55 (3.34%)

, TSS

TSYS

$48.90

1.71 (3.62%)

12:50
10/05/16
10/05
12:50
10/05/16
12:50

Global Payments higher after beating quarterly expectations, raising guidance

Shares of payment technology company Global Payments (GPN) are advancing after the company reported first quarter financial results that surpassed analysts' expectations. In conjunction with its Q1 earnings report, the company raised its fiscal year 2017 profit view. WHAT'S NEW: Ahead of the market open this morning, Global Payments reported Q1 EPS of 86c on revenue of $817.3M, beating analysts' estimates of 83c and $816.17M, respectively. The company attributed the strong quarterly performance to the acceleration of organic growth and the progress with its Heartland integration efforts. Late last year, Global Payments announced it was acquiring competitor Heartland Payment Systems and the acquisition was completed in late April. "Our fiscal 2017 is off to a terrific start, with organic growth accelerating sequentially across our key markets in the first quarter," said Jeff Sloan, Global Payments' Chief Executive Officer. "Heartland continued its strong growth momentum in the United States. Our businesses in Europe performed exceptionally well, and our Asia business produced its highest rate of organic revenue growth in several quarters." Sloan concluded, "We also could not be more pleased with our Heartland integration efforts, which continue to track ahead of our expectations." WHAT'S NOTABLE: With its quarterly report, the company raised its 2017 EPS view to $3.45-$3.55 from its prior view of $3.40-$3.50. Prior to the earnings report, analysts were expecting $3.47 in EPS. Additionally, the company now sees adjusted operating margin for fiscal 2017 to expand by as much as 50 basis points. Global Payments backed its prior revenue view of $3.2B-$3.3B, or growth of 47% to 52% over fiscal 2016. ANALYST VIEW: On September 15, Goldman Sachs analyst James Schneider upgraded Global Payments to Buy from Neutral saying the company's revenue growth is likely to exceed 10% over the next two years, which is ahead of consensus and management's high-single digit growth target. Cost and revenue synergies from the Heartland acquisition are likely to exceed investor expectations, Schneider told investors in a research note at the time. Schneider raised his price target for the shares to $88 from $80. PRICE ACTION: Shares of Global Payments are up 3.3%, or $2.49, to $78.93. OTHERS TO WATCH: Shares of other publicly traded payment and transaction processing companies that compete with Global Payments include Total System Services (TSS), Fiserv (FISV), First Data (FDC) and Vantiv (VNTV).

GPN

Global Payments

$78.99

2.55 (3.34%)

TSS

TSYS

$48.90

1.71 (3.62%)

FISV

Fiserv

$98.89

-0.86 (-0.86%)

FDC

First Data

$13.38

0.35 (2.69%)

VNTV

Vantiv

$57.00

0.5 (0.88%)

  • 05

    Oct

  • 23

    Oct

GPN Global Payments
$78.99

2.55 (3.34%)

09/15/16
GSCO
09/15/16
UPGRADE
Target $88
GSCO
Buy
Global Payments upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst James Schneider upgraded Global Payments to Buy saying the company's revenue growth is likely to exceed 10% over the next two years, which is ahead of consensus and management's high-single digit growth target. Cost and revenue synergies from the Heartland acquisition are likely to exceed investor expectations, Schneider tells investors in a research note. He upped his price target for the shares to $88 from $80.
07/12/16
DBAB
07/12/16
NO CHANGE
Target $79
DBAB
Buy
Global Payments price target raised to $79 from $72 at Deutsche Bank
Deutsche Bank analyst Bryan Keane raised his price target for Global Payments to $79 saying estimates continue to have an upward bias. The acquisition of Heartland could drive further upside, the analyst contends. He keeps a Buy rating on the shares.
08/18/16
OPCO
08/18/16
NO CHANGE
OPCO
Outperform
Oppenheimer encouraged by Global Payments growth opportunity
Following a visit to the company's headquarters, Oppenheimer analyst Glenn Greene says he remains encouraged by Global Payments' intermediate and long-term growth and margin opportunity. The Heartland integration appears ahead of schedule, and the combined entity has already realized sales success, the analyst tells investors in a research note. Further, Greene believes the company's 2017 guidance appears reasonable, if not conservative, and would not preclude upside to its Heartland synergy targets. He reiterates an Outperform rating on the shares.
07/22/16
SBSH
07/22/16
NO CHANGE
Target $89
SBSH
Buy
Global Payments price target raised to $89 from $78 at Citi
Citi analyst Ashwin Shirvaikar raised his price target for Global Payments to $89 saying the company is "likely to easily post upside to acquisition synergy assumptions." The analyst likes the stock at these levels and keeps a Buy rating on the name.
TSS TSYS
$48.90

1.71 (3.62%)

09/14/16
SBSH
09/14/16
NO CHANGE
SBSH
Citi moves Vantiv up to top pick in processor space
Citi analyst Ashwin Shirvaikar shuffled his rankings in the processor space by moving Vantiv (VNTV) up to his pick from third place. Fidelity National Information (FIS) is his second pick, followed by previous top pick TSYS (TSS) and PayPal (PYPL). Shirvaikar keeps a Buy rating on TSYS but lowered his price target for the shares to $60 from $63. Top-line growth deceleration is happening sooner than expected, the analyst tells investors in a research note.
08/12/16
BARD
08/12/16
UPGRADE
Target $60
BARD
Outperform
TSYS upgraded to Outperform at Baird
As reported previously, Baird analyst David Koning upgraded TSYS to Outperform from Neutral citing the stock's current valuation, the potential for catalysts to eventually play out, and the ability for payment stocks to recover rapidly without near-term catalysts. Baird maintained its $60 price target on TSS shares.
08/12/16
BARD
08/12/16
UPGRADE
Target $60
BARD
Outperform
TSYS upgraded to Outperform from Neutral at Baird
Baird analyst David Koning upgraded TSYS to Outperform citing valuation and maintained its $60 price target.
07/28/16
FANA
07/28/16
UPGRADE
Target $62
FANA
Overweight
TSYS upgraded to Overweight from Equal-Weight at First Analysis
First Analysis analyst Lawrence Berlin upgraded TSYS to Overweight citing the post-earnings selloff and confidence in his 2016 estimates. The analyst has a $62 price target for the shares.
FISV Fiserv
$98.89

-0.86 (-0.86%)

10/04/16
MONN
10/04/16
UPGRADE
MONN
Buy
Fiserv upgraded to Buy from Neutral at Monness Crespi
05/09/16
ARGS
05/09/16
UPGRADE
Target $114
ARGS
Buy
Fiserv upgraded to Buy from Hold at Argus
Argus analyst Stephen Biggar upgraded Fiserv to Buy with a $114 price target following the Q1 earnings beat. Operating margins continue to surprise to the upside and expects the company to continue to benefit from secular headwinds, the analyst said.
03/21/16
OPCO
03/21/16
DOWNGRADE
OPCO
Perform
Fiserv downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Glenn Greene downgraded Fiserv to Perform citing valuation following the recent rally in shares. The analyst continues to have a favorable view of the company's business outlook.
04/15/16
COMP
04/15/16
INITIATION
Target $85
COMP
Sell
Fiserv initiated with a Sell at Compass Point
Target $85.
FDC First Data
$13.38

0.35 (2.69%)

08/31/16
08/31/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. BTIG initiated coverage of Juno Therapeutics (JUNO) with a Sell rating, saying the firm is "generally skeptical of current investor expectations for the CD19 CAR T market." The firm has a fair value estimate on Juno of $23 per share. 2. JPMorgan analyst Alex Yao assumed coverage of Sohu.com (SOHU) with an Underweight rating and $40 price target. The rating is unchanged and the price target is lowered from $47. The company will find it difficult to come up with new initiatives to address the continued decline in games revenue, Yao tells investors in a research note. 3. JPMorgan's Yao assumed coverage of SINA (SINA) with an unchanged Overweight rating and $123 price target. 4. Jefferies analyst Jason Kupferberg started First Data (FDC) with a Buy rating and $16.50 price target. Growth in the company's domestic merchant processing segment is set to inflect, the analyst tells investors in a research note. 5. Baird analyst William Power initiated j2 Global (JCOM) with an Outperform rating and $83 price target, citing its attractive valuation, strong free cash flow, consistent margin expansion, the growth in digital media, and its disciplined acquisition strategy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/30/16
CHLM
08/30/16
INITIATION
Target $20
CHLM
Buy
First Data initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Bradley Berning initiated First Data with a Buy and $20 price target saying the company is in the middle of a turnaround that will accelerate revenue growth and significantly greater earnings growth.
08/01/16
BTIG
08/01/16
UPGRADE
BTIG
Buy
First Data upgraded on 2H16 outlook at BTIG
As noted earlier, BTIG upgraded First Data to Buy from Neutral. Following the company's better than expected Q2 results, analyst Mark Palmer thinks the company's turnaround is poised to accelerate in 2H16, driven by benefits from improvements of its North American Global Business Solutions unit. Target $15.
08/31/16
JEFF
08/31/16
INITIATION
Target $16.5
JEFF
Buy
First Data initiated with a Buy at Jefferies
Jefferies analyst Jason Kupferberg started First Data with a Buy rating and $16.50 price target. Growth in the company's domestic merchant processing segment is set to inflect, the analyst tells investors in a research note.
VNTV Vantiv
$57.00

0.5 (0.88%)

07/29/16
LYON
07/29/16
DOWNGRADE
LYON
Outperform
Vantiv downgraded to Outperform from Buy at CLSA
07/29/16
07/29/16
DOWNGRADE
Target $63

Outperform
Vantiv downgraded to Outperform on moderating outlook at CLSA
As previously reported, CLSA downgraded Vantiv to Outperform from Buy. Analyst Tom McCrohan said Vantiv beat Q2 expectations due to solid Merchant and Financial Institutions segment results, but the back-half of the year will moderate due to factors impacting the Financial Institutions segment, making further multiple expansion difficult.
10/05/16
10/05/16
DOWNGRADE

Equal Weight
Fifth Third downgraded to Equal Weight at Stephens
As previously reported, Stephens analyst Terry McEvoy downgraded Fifth Third (FITB) to Equal Weight from Overweight on valuation. The analyst now sees the underlying value and capital flexibility from the company's investment in Vantiv (VNTV) as being largely reflected in the stock's valuation and have more comfort in future expense trends. Given the outperformance at Fifth Third, McEvoy believes investors should take profits and move into KeyCorp (KEY).

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Ventas

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Wells Fargo

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Wells Fargo

$57.29

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EIX

Edison International

$69.44

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PLM

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Match Group

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Enzon

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DDC

Dominion Diamond

$10.27

0.21 (2.09%)

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  • 09

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