Global Payments (NYSE:GPN) Announces Quarterly Earnings Results

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Global Payments (NYSE:GPN) released its earnings results on Tuesday. The business services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.15, MarketWatch Earnings reports. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.77 billion. Global Payments had a net margin of 6.75% and a return on equity of 6.46%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Global Payments updated its FY21 guidance to $7.87 to $8.07 EPS and its FY 2021 guidance to 7.870-8.070 EPS.

NYSE GPN traded down $7.30 during trading hours on Tuesday, reaching $205.17. The company’s stock had a trading volume of 44,123 shares, compared to its average volume of 1,594,953. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.30. Global Payments has a 1 year low of $153.33 and a 1 year high of $220.81. The firm’s 50-day moving average price is $211.66 and its 200-day moving average price is $197.38. The company has a market capitalization of $60.54 billion, a price-to-earnings ratio of 126.47, a PEG ratio of 1.81 and a beta of 1.16.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were issued a $0.195 dividend. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $0.78 annualized dividend and a yield of 0.38%. Global Payments’s payout ratio is 13.31%.

Global Payments declared that its board has authorized a share buyback plan on Monday, February 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Global Payments news, Director M Troy Woods sold 75,727 shares of the company’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $194.65, for a total value of $14,740,260.55. Also, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $215.21, for a total value of $107,605.00. Following the sale, the director now owns 20,893 shares of the company’s stock, valued at $4,496,382.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,645 shares of company stock worth $23,231,757. Corporate insiders own 0.88% of the company’s stock.

A number of research firms have issued reports on GPN. KeyCorp boosted their target price on shares of Global Payments from $175.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, January 27th. Compass Point downgraded shares of Global Payments from a “buy” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research report on Friday, February 12th. Morgan Stanley upped their price target on Global Payments from $197.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 28th. Citigroup upped their target price on Global Payments from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Tuesday, February 9th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 price objective on shares of Global Payments in a research report on Wednesday, January 27th. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $213.14.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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, and on-line reporting services.

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Earnings History for Global Payments (NYSE:GPN)

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