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

Global Payments (NYSE:GPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 11.540-11.700 for the period, compared to the consensus EPS estimate of 11.590. 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 to $11.70 EPS.

Analyst Ratings Changes

Several research analysts recently weighed in on GPN shares. JPMorgan Chase & Co. upped their price objective on shares of Global Payments from $145.00 to $159.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Robert W. Baird increased their price objective on Global Payments from $172.00 to $182.00 and gave the stock an outperform rating in a report on Monday, April 8th. StockNews.com upgraded Global Payments from a hold rating to a buy rating in a report on Wednesday, April 24th. BMO Capital Markets reduced their price objective on Global Payments from $138.00 to $137.00 and set a market perform rating for the company in a report on Thursday, February 15th. Finally, Royal Bank of Canada raised their target price on Global Payments from $154.00 to $172.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Global Payments has a consensus rating of Moderate Buy and an average target price of $151.92.

Global Payments Stock Performance

Shares of GPN stock traded down $7.98 during trading hours on Wednesday, reaching $114.79. The stock had a trading volume of 732,144 shares, compared to its average volume of 2,147,088. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.99. Global Payments has a twelve month low of $95.12 and a twelve month high of $141.77. The firm has a 50-day simple moving average of $128.84 and a 200-day simple moving average of $124.93. The firm has a market capitalization of $29.28 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.01. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm posted $2.30 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Global Payments will post 10.94 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, March 14th. Global Payments’s dividend payout ratio is 26.46%.

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.