Global Payments (NYSE:GPN) Issues FY24 Earnings Guidance

Global Payments (NYSE:GPN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $11.54-11.70 for the period, compared to the consensus EPS estimate of $11.60. The company issued revenue guidance of $9.17-9.30 billion, compared to the consensus revenue estimate of $9.23 billion. Global Payments also updated its FY 2024 guidance to 11.540-11.700 EPS.

Global Payments Stock Up 0.7 %

NYSE:GPN traded up $0.73 during mid-day trading on Friday, reaching $104.44. The company’s stock had a trading volume of 2,413,261 shares, compared to its average volume of 2,273,868. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77. The stock has a fifty day moving average of $104.60 and a 200-day moving average of $104.24. The firm has a market capitalization of $26.57 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) 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 net margin of 13.61% and a return on equity of 11.94%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.48 earnings per share. Equities research analysts forecast that Global Payments will post 11.05 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GPN shares. Keefe, Bruyette & Woods reduced their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Jefferies Financial Group reduced their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. TD Cowen lowered their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Finally, Oppenheimer initiated coverage on Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.96.

Insider Transactions at Global Payments

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

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.