Global Payments (NYSE:GPN) Updates FY24 Earnings Guidance

Global Payments (NYSE:GPN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $11.54-11.70 for the period, compared to the consensus earnings per share 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 analysts recently commented on the company. Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Morgan Stanley cut their price objective on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Keefe, Bruyette & Woods cut their price objective on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Stephens cut their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.96.

Global Payments Stock Performance

Shares of GPN traded up $0.73 during mid-day trading on Friday, hitting $104.44. The stock had a trading volume of 2,413,261 shares, compared to its average volume of 2,273,868. The firm 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 business has a fifty day moving average price of $104.60 and a 200-day moving average price of $104.24. 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 52 week low of $91.60 and a 52 week high of $141.77.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 EPS. On average, equities research analysts expect that Global Payments will post 11.05 EPS for the current year.

Global Payments Dividend Announcement

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

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the sale, 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 through this link. Corporate insiders own 0.98% of the company’s stock.

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.