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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GPN. Royal Bank of Canada decreased their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday. Monness Crespi & Hardt lowered their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Jefferies Financial Group decreased their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Oppenheimer assumed coverage on shares of Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and a consensus target price of $136.50.

Global Payments Trading Up 0.7 %

NYSE GPN opened at $104.44 on Friday. The stock has a market cap of $26.57 billion, a P/E ratio of 19.67, a price-to-earnings-growth 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. The stock has a 50 day simple moving average of $104.60 and a two-hundred day simple moving average of $104.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.92 and a current ratio of 0.93.

Global Payments (NYSE:GPN) last announced 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 during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.48 earnings per share. On average, analysts forecast that Global Payments will post 11.05 earnings per share for the current year.

Global Payments Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.