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

Global Payments (NYSE:GPN) updated its FY 2024 earnings guidance on Wednesday. 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.

Global Payments Price Performance

Shares of NYSE GPN opened at $104.44 on Friday. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The business has a 50 day moving average price of $104.60 and a two-hundred day moving average price of $104.24. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap 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 issued its quarterly earnings data 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. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm earned $2.48 EPS. Global Payments’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Global Payments will post 11.05 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date 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 (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GPN shares. Susquehanna reiterated a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research report on Tuesday, September 17th. TD Cowen decreased their target price 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. Jefferies Financial Group decreased their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Finally, Morgan Stanley decreased their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.