Global Payments (NYSE:GPN) Updates FY 2024 Earnings Guidance

Global Payments (NYSE:GPN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 11.540-11.700 for the period, compared to the consensus EPS estimate of 11.570. The company issued revenue guidance of $9.2 billion-$9.3 billion, compared to the consensus revenue estimate of $9.2 billion. Global Payments also updated its FY24 guidance to $11.54-11.70 EPS.

Global Payments Price Performance

GPN stock opened at $99.05 on Wednesday. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The business has a 50-day simple moving average of $104.95 and a two-hundred day simple moving average of $104.38. The company has a market capitalization of $25.28 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. Global Payments’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.48 EPS. Research analysts expect that Global Payments will post 11.06 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Global Payments’s payout ratio is currently 19.84%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays dropped their target price on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Finally, BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.52.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.