A better-than-expected second quarter helped to propel Global Payments (GPN) to the top of the S&P 500 on Monday. The payment technology firm also updated its forecast and increased its share repurchase program.
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Global Payments climbed 7.2%, or $5.34, to $79.79 on the news, putting it close to its 52-week high of $80.88. Its up 15% year to date and nearly 37% in the past year.
Evercore ISIs David Togut raised his price target by $4, to $96 following the news, along with his earnings estimates:
For 2Q/FY17, cash EPS grew 17% to $0.89, or 22% on a constant currency basis, $0.01 above our above-consensus forecast after adjusting for below the line items, such as a lower than expected tax rate. Meanwhile, adjusted net revenue grew 61% in constant currency to $817 million, $16 million ahead of our forecast. Adjusted EBIT grew 57% to $241 million, $4 million above our estimate and corresponding margin declined 10 basis points to 29.5%, 20 basis points below our estimateRaising FY17 EPS by $0.05 to $3.54 largely given the 2Q/17 earnings outperformance. Increasing FY18 EPS estimate by $0.07 to $4.35 driven by the $10 million increase in synergies anticipated from the Heartland merger and a lower tax rate estimate, partially offset by a lower forecast for Europe margin given increased FX headwinds.
Top Stocks For 2018: Hot Tech Stocks To Own For 20()
- [By ]
For example, say Remind my wife about the party and say don’t forget to pick up a bottle of red wine tonight. Siri will know who your spouse is (or will ask you once) and place that in the To: field, and because you said about the party, Siri knows you want that in the Subject (Re:) field. You also said and say, which places words you said after that into the body of the email. This will all save you time!
- [By Max Byerly]
(CURRENCY:) traded flat against the US dollar during the 24 hour period ending at 8:00 AM E.T. on April 18th. In the last seven days, has traded flat against the US dollar. One coin can currently be purchased for about $0.0000 or 0.00000000 BTC on exchanges including 295
Top Stocks For 2018: Westport Innovations Inc(WPRT)
- [By Lisa Levin]
Westport Fuel Systems Inc (USA) (NASDAQ: WPRT) shares were also up, gaining 16 percent to $3.48 on upbeat Q3 results.
Equities Trading DOWN
- [By Jason Hall]
Furthermore, having a strong financial partner in Total to help it drive adoption of heavy-duty natural gas vehicles at this time could be a huge win. Prices of oil (and therefore diesel) have been steadily climbing over the past year, and the highly anticipated near-zero-emissions natural gas engine fromCummins(NYSE:CMI) andWestport Fuel Systems(NASDAQ:WPRT) is now being shipped to customers.
- [By Daniel Miller]
Shares of Westport Fuel Systems (NASDAQ:WPRT), a provider of high-performance, low-emission engine and fuel systems, are down 10% as of 11:20 a.m. EDT after the company reported its first-quarter results.
Top Stocks For 2018: Smith & Wesson Holding Corporation(SWHC)
- [By Ben Levisohn]
Smith & Wesson’s (SWHC) stock has been under pressure ever since Donald Trump’s election victory–it appears that the perceived threat to take away guns did wonders for the gun manufacturer’s sales. Now, Smith & Wesson might also have to deal with competitive pressures that could “challenge” its market share, says Wunderlich’s Rommel Dionisio:
Given the upcoming mid-January Shot Show, the firearms industrys most important annual trade show, several prominent competitors have already begun to unveil new products for 2017. The flurry of major new product introductions from leading players in the field into the two fastest growing categories of firearms, modern sporting rifles (MSRs) and compact/concealed carry handguns, appear meaningfully more competitive than usual, which could challenge Smith & Wessons (SWHC) market share, which had been rising impressively the past several years. Industry sales are also likely to slow, following unusually high growth in 2016. We maintain our price target of $26, derived using an EV/2016E EBITDA multiple of 6.0x.
Shares of Smith & Wesson have dropped 1.5% to $21.78 at 12:07 p.m. today.
- [By Peter Graham]
A long term performance chart shows Sturm, Ruger & Company underperforming volatile higher flying competitors or peers like small cap gun stock American Outdoor Brands Corp (NASDAQ: AOBC), formerly Smith & Wesson Holding Corp (NASDAQ: SWHC), and electronic control device maker TASER International, Inc (NASDAQ: TASR):
- [By Chris Lange]
Smith & Wesson Holding Corp. (NASDAQ: SWHC) reported fiscal second-quarter financial results after markets closed on Thursday. The company said that it had $0.68 in earnings per share (EPS) and $233.5 million in revenue, versus consensus estimates from Thomson Reuters called for $0.56 in EPS and $227.61 million in revenue. The same period from last year had $0.25 in EPS and $143.24 million in revenue.
- [By Peter Graham]
A long term performance chart shows TASER Internationaloutperforming and all over the place while police body cam stockDigital Ally, Inc (NASDAQ: DGLY)has underperformed, Mace Security International (OTCMKTS: MACE) has been moving sideways and gun stock Sturm, Ruger & Company (NYSE: RGR) has underperformedAmerican Outdoor Brands Corp(NASDAQ: AOBC), formerly Smith & Wesson Holding Corp (NASDAQ: SWHC):
- [By Peter Graham]
A long term performance chart shows Sturm, Ruger & Company underperforming more volatile and higher flying competitors or peers like small cap gun stock American Outdoor Brands Corp (NASDAQ: AOBC), formerly Smith & Wesson Holding Corp (NASDAQ: SWHC), and electronic control device maker Axon Enterprise (NASDAQ: AAXN), formerlyTASER International, Inc (NASDAQ: TASR):