Global Payments (NYSE:GPN) Releases FY24 Earnings Guidance

Global Payments (NYSE:GPN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $11.54-11.70 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GPN shares. BMO Capital Markets lowered their price objective on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. B. Riley dropped their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Jefferies Financial Group reduced their target price on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Morgan Stanley lowered their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.96.

Global Payments Trading Up 0.7 %

Shares of Global Payments stock traded up $0.73 during mid-day trading on Friday, hitting $104.44. 2,413,261 shares of the stock were exchanged, compared to its average volume of 2,273,868. The company has a 50-day simple moving average of $104.60 and a 200 day simple moving average of $104.24. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $26.57 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments (NYSE:GPN) last released its earnings results 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 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 EPS. Global Payments’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Global Payments will post 11.05 EPS for the current year.

Global Payments Announces Dividend

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

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the 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 transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is owned by company insiders.

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.