Why Global Payments (GPN) Is Moving Lower on Friday

NEW YORK (TheStreet) -- Global Payments (GPN) is slipping on Friday after reporting its third-quarter financials after the bell a day earlier. 

By midafternoon, shares had fallen 3.9% to $68.82.

In the three months to Feb. 28, the payment network recorded revenues 7% higher to $616.5 million and net income of 96 cents a share.

The results beat by a penny on the bottom-line but missed by $1.99 million, according to analyst averages compiled by Thomson Reuters.

Over the full year to May, the company expects revenue between $2.51 billion and $2.56 billion and net income of $4.06 to $4.11 a share. Analysts forecast $3.54 billion in sales and $4.10 a share in net income.

GAAP net income guidance between $3.48 and $3.53 a share fell short of analyst estimates for $3.61 a share.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates GLOBAL PAYMENTS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate GLOBAL PAYMENTS INC (GPN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, good cash flow from operations and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

If you liked this article you might like

The Amazon Effect Extends to Payments Industry With Vantiv-Worldpay Deal

5 More FinTech Deals That Could Go Down Following Vantiv's $10 Billion Purchase of Worldpay

Credit Card Stocks Have Been on Fire, but Here Comes the Cold Water

Analysts' Actions -- Box, Caesar's, Goodyear, Idexx Labs and More

Cramer: These Sectors Look Bullish (Part III)