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

Global Payments (NYSE:GPN) posted its quarterly earnings results on Wednesday. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03, RTT News reports. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business 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 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. 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 Down 1.9 %

Shares of NYSE:GPN opened at $102.06 on Friday. The firm has a fifty day moving average price of $97.48 and a 200 day moving average price of $115.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $26.05 billion, a P/E ratio of 20.25, a P/E/G ratio of 0.63 and a beta of 0.98. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77.

Global Payments Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on 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 owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GPN shares. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. William Blair upgraded Global Payments to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Global Payments from $119.00 to $111.00 and set a “neutral” rating on the stock in a report on Thursday. Susquehanna cut their price objective on Global Payments from $157.00 to $147.00 and set a “positive” rating for the company in a report on Thursday. Finally, Evercore ISI dropped their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and an average 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.