Global Payments (NYSE:GPN) Updates FY 2024 Earnings Guidance

Global Payments (NYSE:GPN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 11.540-11.700 for the period, compared to the consensus earnings per share estimate of 11.570. The company issued revenue guidance of $9.2 billion-$9.3 billion, compared to the consensus revenue estimate of $9.2 billion. Global Payments also updated its FY24 guidance to $11.54-11.70 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GPN shares. Stephens decreased their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Morgan Stanley cut their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Barclays lowered their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, KeyCorp dropped their price objective on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.96.

Global Payments Price Performance

NYSE GPN traded up $0.73 during midday trading on Friday, hitting $104.44. The company had a trading volume of 2,469,217 shares, compared to its average volume of 2,273,868. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market capitalization of $26.57 billion, a PE ratio of 19.82, a P/E/G ratio of 0.77 and a beta of 0.98. The firm has a 50-day moving average price of $104.72 and a 200-day moving average price of $104.37.

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

Global Payments Dividend Announcement

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

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

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.