Intrinsic value of Global Payments - GPN

Previous Close

$117.36

  Intrinsic Value

$55.27

stock screener

  Rating & Target

str. sell

-53%

Previous close

$117.36

 
Intrinsic value

$55.27

 
Up/down potential

-53%

 
Rating

str. sell

We calculate the intrinsic value of GPN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 18.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4,055
  4,148
  4,255
  4,374
  4,507
  4,652
  4,811
  4,982
  5,167
  5,365
  5,577
  5,804
  6,045
  6,301
  6,573
  6,861
  7,166
  7,488
  7,829
  8,189
  8,568
  8,968
  9,390
  9,835
  10,303
  10,796
  11,315
  11,861
  12,435
  13,040
Variable operating expenses, $m
  3,443
  3,504
  3,574
  3,652
  3,739
  3,834
  3,938
  4,050
  4,171
  4,301
  3,651
  3,799
  3,957
  4,125
  4,303
  4,491
  4,691
  4,902
  5,125
  5,360
  5,609
  5,871
  6,147
  6,438
  6,745
  7,067
  7,407
  7,765
  8,141
  8,536
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,443
  3,504
  3,574
  3,652
  3,739
  3,834
  3,938
  4,050
  4,171
  4,301
  3,651
  3,799
  3,957
  4,125
  4,303
  4,491
  4,691
  4,902
  5,125
  5,360
  5,609
  5,871
  6,147
  6,438
  6,745
  7,067
  7,407
  7,765
  8,141
  8,536
Operating income, $m
  612
  644
  681
  722
  768
  818
  873
  932
  996
  1,064
  1,926
  2,005
  2,088
  2,176
  2,270
  2,370
  2,475
  2,586
  2,704
  2,828
  2,959
  3,097
  3,243
  3,397
  3,558
  3,729
  3,908
  4,096
  4,295
  4,504
EBITDA, $m
  1,646
  1,684
  1,727
  1,776
  1,829
  1,889
  1,953
  2,022
  2,097
  2,178
  2,264
  2,356
  2,454
  2,558
  2,668
  2,785
  2,909
  3,040
  3,178
  3,324
  3,478
  3,641
  3,812
  3,992
  4,182
  4,383
  4,593
  4,815
  5,048
  5,293
Interest expense (income), $m
  94
  286
  296
  307
  320
  335
  352
  370
  390
  411
  435
  459
  486
  514
  544
  576
  610
  646
  684
  725
  767
  812
  859
  909
  962
  1,018
  1,076
  1,138
  1,203
  1,271
  1,343
Earnings before tax, $m
  326
  348
  374
  402
  433
  466
  503
  542
  585
  630
  1,467
  1,519
  1,574
  1,632
  1,694
  1,759
  1,829
  1,902
  1,979
  2,061
  2,147
  2,238
  2,334
  2,435
  2,541
  2,652
  2,770
  2,894
  3,024
  3,161
Tax expense, $m
  88
  94
  101
  108
  117
  126
  136
  146
  158
  170
  396
  410
  425
  441
  457
  475
  494
  514
  534
  556
  580
  604
  630
  657
  686
  716
  748
  781
  816
  853
Net income, $m
  238
  254
  273
  293
  316
  340
  367
  396
  427
  460
  1,071
  1,109
  1,149
  1,191
  1,237
  1,284
  1,335
  1,388
  1,445
  1,505
  1,567
  1,634
  1,704
  1,777
  1,855
  1,936
  2,022
  2,113
  2,208
  2,307

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  13,251
  13,555
  13,904
  14,295
  14,728
  15,204
  15,721
  16,282
  16,886
  17,534
  18,227
  18,967
  19,754
  20,592
  21,480
  22,421
  23,418
  24,471
  25,585
  26,760
  28,001
  29,309
  30,688
  32,140
  33,670
  35,281
  36,977
  38,762
  40,639
  42,613
Adjusted assets (=assets-cash), $m
  13,251
  13,555
  13,904
  14,295
  14,728
  15,204
  15,721
  16,282
  16,886
  17,534
  18,227
  18,967
  19,754
  20,592
  21,480
  22,421
  23,418
  24,471
  25,585
  26,760
  28,001
  29,309
  30,688
  32,140
  33,670
  35,281
  36,977
  38,762
  40,639
  42,613
Revenue / Adjusted assets
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
Average production assets, $m
  4,371
  4,471
  4,586
  4,715
  4,858
  5,015
  5,186
  5,371
  5,570
  5,784
  6,013
  6,257
  6,516
  6,792
  7,086
  7,396
  7,725
  8,072
  8,440
  8,827
  9,237
  9,668
  10,123
  10,602
  11,107
  11,638
  12,198
  12,786
  13,405
  14,057
Working capital, $m
  -114
  -116
  -119
  -122
  -126
  -130
  -135
  -140
  -145
  -150
  -156
  -163
  -169
  -176
  -184
  -192
  -201
  -210
  -219
  -229
  -240
  -251
  -263
  -275
  -288
  -302
  -317
  -332
  -348
  -365
Total debt, $m
  5,473
  5,688
  5,935
  6,212
  6,519
  6,856
  7,222
  7,619
  8,046
  8,505
  8,996
  9,520
  10,078
  10,670
  11,299
  11,966
  12,671
  13,417
  14,205
  15,038
  15,916
  16,842
  17,818
  18,847
  19,930
  21,071
  22,271
  23,534
  24,864
  26,262
Total liabilities, $m
  9,381
  9,597
  9,844
  10,121
  10,428
  10,764
  11,131
  11,528
  11,955
  12,414
  12,905
  13,429
  13,986
  14,579
  15,208
  15,874
  16,580
  17,326
  18,114
  18,946
  19,824
  20,751
  21,727
  22,755
  23,839
  24,979
  26,180
  27,443
  28,772
  30,170
Total equity, $m
  3,869
  3,958
  4,060
  4,174
  4,301
  4,439
  4,591
  4,754
  4,931
  5,120
  5,322
  5,538
  5,768
  6,013
  6,272
  6,547
  6,838
  7,146
  7,471
  7,814
  8,176
  8,558
  8,961
  9,385
  9,832
  10,302
  10,797
  11,318
  11,867
  12,443
Total liabilities and equity, $m
  13,250
  13,555
  13,904
  14,295
  14,729
  15,203
  15,722
  16,282
  16,886
  17,534
  18,227
  18,967
  19,754
  20,592
  21,480
  22,421
  23,418
  24,472
  25,585
  26,760
  28,000
  29,309
  30,688
  32,140
  33,671
  35,281
  36,977
  38,761
  40,639
  42,613
Debt-to-equity ratio
  1.410
  1.440
  1.460
  1.490
  1.520
  1.540
  1.570
  1.600
  1.630
  1.660
  1.690
  1.720
  1.750
  1.770
  1.800
  1.830
  1.850
  1.880
  1.900
  1.920
  1.950
  1.970
  1.990
  2.010
  2.030
  2.050
  2.060
  2.080
  2.100
  2.110
Adjusted equity ratio
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  238
  254
  273
  293
  316
  340
  367
  396
  427
  460
  1,071
  1,109
  1,149
  1,191
  1,237
  1,284
  1,335
  1,388
  1,445
  1,505
  1,567
  1,634
  1,704
  1,777
  1,855
  1,936
  2,022
  2,113
  2,208
  2,307
Depreciation, amort., depletion, $m
  1,034
  1,040
  1,046
  1,053
  1,062
  1,070
  1,080
  1,090
  1,101
  1,114
  338
  351
  366
  382
  398
  416
  434
  453
  474
  496
  519
  543
  569
  596
  624
  654
  685
  718
  753
  790
Funds from operations, $m
  1,272
  1,294
  1,319
  1,347
  1,377
  1,411
  1,447
  1,486
  1,528
  1,573
  1,409
  1,460
  1,515
  1,573
  1,635
  1,700
  1,769
  1,842
  1,919
  2,000
  2,086
  2,177
  2,272
  2,373
  2,479
  2,590
  2,707
  2,831
  2,961
  3,097
Change in working capital, $m
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -15
  -15
  -16
  -17
Cash from operations, $m
  1,274
  1,297
  1,322
  1,350
  1,381
  1,415
  1,451
  1,491
  1,533
  1,579
  1,415
  1,466
  1,522
  1,580
  1,642
  1,708
  1,777
  1,851
  1,929
  2,011
  2,097
  2,188
  2,284
  2,385
  2,492
  2,604
  2,722
  2,846
  2,977
  3,114
Maintenance CAPEX, $m
  -241
  -246
  -251
  -258
  -265
  -273
  -282
  -291
  -302
  -313
  -325
  -338
  -351
  -366
  -382
  -398
  -416
  -434
  -453
  -474
  -496
  -519
  -543
  -569
  -596
  -624
  -654
  -685
  -718
  -753
New CAPEX, $m
  -85
  -101
  -115
  -129
  -143
  -157
  -171
  -185
  -199
  -214
  -229
  -244
  -260
  -276
  -293
  -311
  -329
  -348
  -367
  -388
  -409
  -432
  -455
  -479
  -505
  -531
  -559
  -589
  -619
  -651
Cash from investing activities, $m
  -326
  -347
  -366
  -387
  -408
  -430
  -453
  -476
  -501
  -527
  -554
  -582
  -611
  -642
  -675
  -709
  -745
  -782
  -820
  -862
  -905
  -951
  -998
  -1,048
  -1,101
  -1,155
  -1,213
  -1,274
  -1,337
  -1,404
Free cash flow, $m
  949
  951
  956
  963
  973
  985
  999
  1,015
  1,032
  1,052
  861
  885
  910
  938
  968
  999
  1,033
  1,069
  1,108
  1,149
  1,192
  1,238
  1,286
  1,337
  1,391
  1,449
  1,509
  1,572
  1,639
  1,710
Issuance/(repayment) of debt, $m
  178
  216
  247
  277
  307
  337
  367
  397
  428
  459
  491
  524
  558
  593
  629
  666
  705
  746
  788
  832
  878
  926
  976
  1,029
  1,083
  1,141
  1,201
  1,263
  1,329
  1,398
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  178
  216
  247
  277
  307
  337
  367
  397
  428
  459
  491
  524
  558
  593
  629
  666
  705
  746
  788
  832
  878
  926
  976
  1,029
  1,083
  1,141
  1,201
  1,263
  1,329
  1,398
Total cash flow (excl. dividends), $m
  1,126
  1,166
  1,203
  1,240
  1,280
  1,322
  1,365
  1,411
  1,460
  1,511
  1,352
  1,408
  1,468
  1,531
  1,596
  1,666
  1,739
  1,815
  1,896
  1,981
  2,070
  2,164
  2,262
  2,366
  2,475
  2,589
  2,709
  2,836
  2,968
  3,108
Retained Cash Flow (-), $m
  -75
  -89
  -102
  -114
  -127
  -139
  -151
  -164
  -176
  -189
  -202
  -216
  -230
  -244
  -259
  -275
  -291
  -308
  -325
  -343
  -362
  -382
  -403
  -424
  -447
  -470
  -495
  -521
  -548
  -577
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,052
  1,077
  1,101
  1,126
  1,153
  1,183
  1,214
  1,248
  1,284
  1,322
  1,149
  1,192
  1,238
  1,286
  1,337
  1,391
  1,448
  1,508
  1,571
  1,638
  1,708
  1,782
  1,860
  1,942
  2,028
  2,119
  2,214
  2,315
  2,420
  2,531
Discount rate, %
  7.70
  8.09
  8.49
  8.91
  9.36
  9.83
  10.32
  10.83
  11.38
  11.95
  12.54
  13.17
  13.83
  14.52
  15.25
  16.01
  16.81
  17.65
  18.53
  19.46
  20.43
  21.45
  22.52
  23.65
  24.83
  26.07
  27.38
  28.75
  30.18
  31.69
PV of cash for distribution, $m
  977
  922
  862
  800
  737
  674
  611
  548
  487
  428
  313
  270
  230
  193
  159
  129
  103
  81
  62
  47
  34
  25
  17
  12
  8
  5
  3
  2
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Global Payments Inc. is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company's segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services. The Company's segments target customers in various industries, including financial services, gaming, government, healthcare, professional services, restaurants, retail, universities, not-for-profit organizations and utilities. It provides services across a range of channels to merchants and partners in over 30 countries throughout North America, Europe, the Asia-Pacific region and Brazil. The Company performs a series of services, including authorization, electronic draft capture, file transfers to facilitate funds settlement and certain exception-based, back office support services, such as chargeback and retrieval resolution.

FINANCIAL RATIOS  of  Global Payments (GPN)

Valuation Ratios
P/E Ratio 142.9
Price to Sales 8.1
Price to Book 6.8
Price to Tangible Book
Price to Cash Flow 35.5
Price to Free Cash Flow 43.1
Growth Rates
Sales Growth Rate -24%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.3%
Cap. Spend. - 3 Yr. Gr. Rate 1.9%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 162%
Total Debt to Equity 183.6%
Interest Coverage 3
Management Effectiveness
Return On Assets 1.9%
Ret/ On Assets - 3 Yr. Avg. 4%
Return On Total Capital 1.7%
Ret/ On T. Cap. - 3 Yr. Avg. 5.4%
Return On Equity 4.6%
Return On Equity - 3 Yr. Avg. 17.3%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 50.3%
Gross Margin - 3 Yr. Avg. 58%
EBITDA Margin 23.3%
EBITDA Margin - 3 Yr. Avg. 21.9%
Operating Margin 10.8%
Oper. Margin - 3 Yr. Avg. 14%
Pre-Tax Margin 7.9%
Pre-Tax Margin - 3 Yr. Avg. 11.8%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 8.4%
Effective Tax Rate 20.2%
Eff/ Tax Rate - 3 Yr. Avg. 21.9%
Payout Ratio 2.4%

GPN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GPN stock intrinsic value calculation we used $3975.163 million for the last fiscal year's total revenue generated by Global Payments. The default revenue input number comes from 0001 income statement of Global Payments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GPN stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.7%, whose default value for GPN is calculated based on our internal credit rating of Global Payments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Global Payments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GPN stock the variable cost ratio is equal to 85.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GPN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Global Payments.

Corporate tax rate of 27% is the nominal tax rate for Global Payments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GPN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GPN are equal to 107.8%.

Life of production assets of 17.8 years is the average useful life of capital assets used in Global Payments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GPN is equal to -2.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3794.527 million for Global Payments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 158.185 million for Global Payments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Global Payments at the current share price and the inputted number of shares is $18.6 billion.

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COMPANY NEWS

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▶ Global Payments: 2Q Earnings Snapshot   [07:15AM  Associated Press]
▶ [$$] SEC Brings Insider-Trading Suit Against Former Heartland Payment CEO   [Jul-10-18 07:52PM  The Wall Street Journal]
▶ Global Payments Refinances Debt Facilities   [Jun-21-18 08:30AM  Business Wire]
▶ [$$] Former Heartland CEO Faces Federal Probe Tied to Stock Trades   [Jun-01-18 10:44PM  The Wall Street Journal]
▶ [$$] Former Heartland CEO Faces Federal Probe   [05:28PM  The Wall Street Journal]
▶ Global Payments Could Climb in the Months Ahead   [May-24-18 01:42PM  TheStreet.com]
▶ Stocks With Rising Relative Strength: Global Payments   [03:00AM  Investor's Business Daily]
▶ The Secret to Global Payments' Success   [May-21-18 09:31AM  Motley Fool]
▶ When Should You Buy Global Payments Inc (NYSE:GPN)?   [May-18-18 04:03PM  Simply Wall St.]
▶ 6 Growth Stocks Ready for Outsized Gains   [May-08-18 08:00AM  Investopedia]
▶ Global Payments: 1Q Earnings Snapshot   [07:07AM  Associated Press]
▶ Opening Bell, April 17, 2018   [Apr-17-18 09:29AM  CNBC Videos]
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▶ 10 Growth Stocks for Long-Term Investors   [Mar-15-18 08:00AM  Investopedia]
▶ Global Payments to Webcast Investor Conference Today   [Mar-01-18 07:00AM  Business Wire]
▶ BofA Sees 12% Upside In Global Payments   [Feb-21-18 05:02PM  Benzinga]
▶ NYSE trader: What to buy on the dip   [Feb-15-18 02:03PM  Yahoo Finance Video]
▶ Global Payments beats 4Q profit forecasts   [07:35AM  Associated Press]

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