KeyCorp Weighs in on Global Payments FY2024 Earnings

Global Payments Inc. (NYSE:GPN) – Investment analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Global Payments in a research report issued to clients and investors on Wednesday, December 18th. KeyCorp analyst A. Markgraff expects that the business services provider will post earnings per share of $11.01 for the year. KeyCorp currently has a “Overweight” rating and a $135.00 target price on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.01 per share. KeyCorp also issued estimates for Global Payments’ Q4 2024 earnings at $2.84 EPS.

GPN has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. B. Riley dropped their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. TD Cowen decreased their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Morgan Stanley increased their price target on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Stock Performance

Global Payments stock opened at $112.98 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $28.75 billion, a PE ratio of 21.28, a P/E/G ratio of 0.90 and a beta of 1.00. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The business’s 50-day moving average price is $111.25 and its two-hundred day moving average price is $105.14.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. Cromwell Holdings LLC acquired a new stake in Global Payments in the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC acquired a new stake in Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the 3rd quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the last quarter. Finally, Quarry LP raised its holdings in Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after buying an additional 293 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

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.