Brokerages Anticipate Global Payments Inc (GPN) Will Post Earnings of $1.41 Per Share

Wall Street brokerages expect Global Payments Inc (NYSE:GPN) to post earnings per share of $1.41 for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Global Payments’ earnings, with estimates ranging from $1.38 to $1.44. Global Payments posted earnings per share of $1.15 in the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The business is expected to issue its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Global Payments will report full year earnings of $5.15 per share for the current financial year, with EPS estimates ranging from $5.08 to $5.19. For the next financial year, analysts forecast that the business will report earnings of $5.98 per share, with EPS estimates ranging from $5.85 to $6.07. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Global Payments.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, August 2nd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.07. The business had revenue of $982.50 million for the quarter, compared to analyst estimates of $968.75 million. Global Payments had a return on equity of 17.99% and a net margin of 14.86%. Global Payments’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS.

Several brokerages have commented on GPN. Zacks Investment Research cut shares of Global Payments from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Morgan Stanley lifted their target price on Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a research report on Thursday, July 19th. Buckingham Research lifted their target price on Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Deutsche Bank upped their price target on Global Payments to $140.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, BMO Capital Markets assumed coverage on Global Payments in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $119.00.

In other news, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the transaction, the director now directly owns 83,024 shares of the company’s stock, valued at $10,690,170.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cameron M. Bready sold 57,737 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total value of $7,377,633.86. Following the completion of the transaction, the insider now directly owns 189,083 shares of the company’s stock, valued at $24,161,025.74. The disclosure for this sale can be found here. Insiders sold 93,430 shares of company stock valued at $11,833,594 over the last ninety days. Corporate insiders own 0.98% of the company’s stock.

Several institutional investors have recently bought and sold shares of GPN. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Global Payments by 8.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock worth $654,000 after acquiring an additional 443 shares during the period. First Republic Investment Management Inc. raised its position in shares of Global Payments by 16.9% in the first quarter. First Republic Investment Management Inc. now owns 7,585 shares of the business services provider’s stock worth $847,000 after buying an additional 1,099 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Global Payments in the first quarter worth $241,000. Russell Investments Group Ltd. raised its position in shares of Global Payments by 28.2% in the first quarter. Russell Investments Group Ltd. now owns 53,017 shares of the business services provider’s stock worth $5,888,000 after buying an additional 11,656 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Global Payments in the first quarter worth $1,106,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Global Payments stock traded down $3.94 during trading on Monday, hitting $117.86. 1,483,700 shares of the company’s stock were exchanged, compared to its average volume of 1,027,252. The stock has a market cap of $20.15 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.19. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments has a 52-week low of $95.32 and a 52-week high of $129.25.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 13th. Global Payments’s payout ratio is currently 1.00%.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

Get a free copy of the Zacks research report on Global Payments (GPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply