KeyCorp Comments on Global Payments FY2024 Earnings

Global Payments Inc. (NYSE:GPN) – Analysts at KeyCorp issued their FY2024 earnings per share estimates for Global Payments in a research report issued on Wednesday, December 18th. KeyCorp analyst A. Markgraff forecasts 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.

Several other analysts have also issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. B. Riley reduced 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 report on Wednesday, September 25th. BMO Capital Markets dropped their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, Oppenheimer initiated coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.55.

Global Payments Trading Up 1.0 %

NYSE GPN opened at $112.98 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $111.25 and a 200 day simple moving average of $105.14. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market capitalization of $28.75 billion, a P/E ratio of 21.28, a PEG ratio of 0.90 and a beta of 1.00.

Global Payments Announces Dividend

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

Insider Activity at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $116.00 per share, for a total transaction 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 represents a 15.70 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock worth $679,952,000 after buying an additional 215,399 shares during the period. Geode Capital Management LLC increased its stake in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock worth $605,078,000 after purchasing an additional 31,934 shares during the period. Franklin Resources Inc. lifted its position in Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock valued at $564,437,000 after purchasing an additional 83,481 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.