Global Payments (NYSE:GPN) Issues FY24 Earnings Guidance

Global Payments (NYSE:GPN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $11.54-11.70 for the period, compared to the consensus EPS estimate of $11.60. The company issued revenue guidance of $9.17-9.30 billion, compared to the consensus revenue estimate of $9.23 billion. Global Payments also updated its FY 2024 guidance to 11.540-11.700 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Susquehanna reiterated a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Oppenheimer started coverage on Global Payments in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. B. Riley dropped their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments has an average rating of “Moderate Buy” and an average price target of $136.96.

Global Payments Stock Performance

NYSE GPN traded up $0.73 during trading on Friday, reaching $104.44. 2,413,261 shares of the company’s stock were exchanged, compared to its average volume of 2,273,868. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day moving average price of $104.60 and a 200-day moving average price of $104.24. The stock has a market capitalization of $26.57 billion, a P/E ratio of 19.67, a PEG ratio of 0.77 and a beta of 0.98. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $2.48 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Global Payments will post 11.05 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.96%. Global Payments’s dividend payout ratio is currently 18.83%.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’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 transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Global Payments Company Profile

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.