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

Global Payments (NYSE:GPN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 11.540-11.700 for the period, compared to the consensus 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 Stock Up 0.7 %

Shares of NYSE GPN traded up $0.73 during midday trading on Friday, hitting $104.44. 2,469,217 shares of the company’s stock were exchanged, compared to its average volume of 2,273,868. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.92. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market cap of $26.57 billion, a PE ratio of 19.82, a P/E/G ratio of 0.77 and a beta of 0.98. The firm’s fifty day simple moving average is $104.72 and its 200-day simple moving average is $104.37.

Global Payments (NYSE:GPN) last announced its quarterly earnings results 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 net margin of 13.61% and a return on equity of 11.94%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company earned $2.48 earnings per share. Global Payments’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Global Payments will post 11.05 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.96%. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. KeyCorp reduced their price objective on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. TD Cowen decreased 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. JPMorgan Chase & Co. dropped their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group decreased their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.96.

Insiders Place Their Bets

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.98% of the stock is owned by company insiders.

Global Payments Company Profile

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.