Global Payments (NYSE:GPN) announced its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05, MarketWatch Earnings reports. The business had revenue of $857.70 million during the quarter, compared to analyst estimates of $1.02 billion. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. Global Payments’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 EPS. Global Payments updated its FY 2018 guidance to $5.12-5.22 EPS and its FY18 guidance to $5.12-5.22 EPS.
Shares of GPN traded up $0.73 during midday trading on Thursday, hitting $103.87. 1,030,754 shares of the company traded hands, compared to its average volume of 1,416,953. Global Payments has a one year low of $95.32 and a one year high of $129.25. The stock has a market cap of $16.32 billion, a PE ratio of 25.90, a P/E/G ratio of 1.21 and a beta of 1.18. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 13th. Global Payments’s dividend payout ratio is presently 1.00%.
In related news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $116.07, for a total value of $362,718.75. Following the transaction, the director now directly owns 80,324 shares in the company, valued at $9,323,206.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $109.66, for a total transaction of $76,762.00. Following the completion of the transaction, the director now owns 42,169 shares in the company, valued at $4,624,252.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,055 shares of company stock worth $11,425,119. Company insiders own 0.98% of the company’s stock.
A number of equities analysts have issued reports on GPN shares. Deutsche Bank lifted their price objective on shares of Global Payments to $140.00 and gave the stock a “buy” rating in a report on Friday, September 14th. BMO Capital Markets started coverage on shares of Global Payments in a report on Wednesday, September 26th. They set an “outperform” rating and a $139.00 price objective on the stock. Wedbush lifted their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, August 28th. Robert W. Baird lifted their price objective on shares of Global Payments from $136.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Finally, Buckingham Research boosted their price target on shares of Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.30.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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