Global Payments (NYSE:GPN) Issues Earnings Results

Global Payments (NYSE:GPN) announced its quarterly earnings results on Wednesday. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03, RTT News reports. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 earnings per share. Global Payments updated its FY24 guidance to $11.54-11.70 EPS and its FY 2024 guidance to 11.540-11.700 EPS.

Global Payments Stock Down 1.9 %

GPN traded down $2.00 during trading on Friday, hitting $102.06. The company had a trading volume of 2,125,447 shares, compared to its average volume of 2,308,252. The company has a market capitalization of $26.05 billion, a PE ratio of 20.25, a PEG ratio of 0.63 and a beta of 0.98. Global Payments has a one year low of $91.60 and a one year high of $141.77. The firm’s 50-day moving average price is $97.48 and its 200 day moving average price is $115.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.98%. Global Payments’s dividend payout ratio is currently 19.84%.

Insider Activity at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays cut their price target on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Evercore ISI cut their target price on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Monness Crespi & Hardt cut their target price on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, BMO Capital Markets lifted their target price on shares of Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and an average target price of $142.04.

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.