Global Payments (NYSE:GPN) Issues FY24 Earnings Guidance

Global Payments (NYSE:GPN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $11.54-11.70 for the period, compared to the consensus EPS estimate of $11.60. The company issued revenue guidance of $9.17-9.30 billion, compared to the consensus revenue estimate of $9.23 billion. Global Payments also updated its FY 2024 guidance to 11.540-11.700 EPS.

Global Payments Stock Performance

GPN stock traded up $0.73 during midday trading on Friday, reaching $104.44. 2,413,261 shares of the company’s stock traded hands, compared to its average volume of 2,273,868. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market cap of $26.57 billion, a P/E ratio of 19.67, a PEG ratio of 0.77 and a beta of 0.98. The stock’s 50-day moving average is $104.60 and its 200 day moving average is $104.24.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $2.48 EPS. Global Payments’s revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Global Payments will post 11.05 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend yield of 0.96%. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GPN. Monness Crespi & Hardt lowered their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.96.

Insider Buying and Selling at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments 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 of the company’s stock, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.