Global Payments (NYSE:GPN) Issues Earnings Results, Beats Expectations By $0.03 EPS

Global Payments (NYSE:GPN) announced its quarterly earnings results on Wednesday. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03, RTT News reports. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $2.48 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Global Payments updated its FY24 guidance to $11.54-11.70 EPS and its FY 2024 guidance to 11.540-11.700 EPS.

Global Payments Stock Performance

GPN traded down $2.00 during trading hours on Friday, hitting $102.06. The company’s stock had a trading volume of 2,125,447 shares, compared to its average volume of 2,308,252. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a 50-day simple moving average of $97.48 and a 200 day simple moving average of $115.28. The firm has a market capitalization of $26.05 billion, a PE ratio of 20.25, a PEG ratio of 0.63 and a beta of 0.98.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Insiders Place Their Bets

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GPN has been the subject of several recent research reports. William Blair raised shares of Global Payments to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $119.00 to $111.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup dropped their target price on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Evercore ISI dropped their price objective on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.04.

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.