Global Payments (NYSE:GPN – Get Free Report) 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
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.
View Our Latest Stock Report on Global Payments
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.
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