B. Riley Has Bearish Outlook for Global Payments Q3 Earnings

Global Payments Inc. (NYSE:GPN - Free Report) - Equities researchers at B. Riley lowered their Q3 2024 earnings estimates for Global Payments in a report issued on Monday, October 21st. B. Riley analyst H. Goetsch now forecasts that the business services provider will post earnings per share of $2.91 for the quarter, down from their prior forecast of $2.99. B. Riley currently has a "Buy" rating and a $194.00 price target on the stock. The consensus estimate for Global Payments' current full-year earnings is $11.07 per share. B. Riley also issued estimates for Global Payments' Q4 2024 earnings at $2.84 EPS and FY2024 earnings at $11.01 EPS.

Several other research firms have also commented on GPN. Oppenheimer initiated coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. Sanford C. Bernstein downgraded Global Payments from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $135.00 to $112.00 in a research report on Tuesday. TD Cowen decreased their target price on Global Payments from $125.00 to $122.00 and set a "buy" 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 report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target on Global Payments from $111.00 to $118.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Global Payments currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.65.

Global Payments Price Performance

NYSE GPN traded down $0.68 on Tuesday, reaching $99.30. The company's stock had a trading volume of 1,709,239 shares, compared to its average volume of 2,266,427. The firm's 50 day moving average is $105.79 and its two-hundred day moving average is $105.30. The stock has a market cap of $25.35 billion, a PE ratio of 19.70, a PEG ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $2.48 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 1.01%. Global Payments's dividend payout ratio (DPR) is currently 19.84%.

Insiders Place Their Bets

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the company's stock in a transaction that occurred on 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 owns 20,531 shares of the company's stock, valued at $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Global Payments by 7,624.1% in the third quarter. International Assets Investment Management LLC now owns 102,113 shares of the business services provider's stock worth $10,458,000 after purchasing an additional 100,791 shares during the period. Greenleaf Trust acquired a new stake in Global Payments in the 3rd quarter valued at approximately $200,000. Commerzbank Aktiengesellschaft FI bought a new position in Global Payments in the 3rd quarter worth approximately $211,000. Private Advisor Group LLC lifted its holdings in shares of Global Payments by 40.6% during the third quarter. Private Advisor Group LLC now owns 5,729 shares of the business services provider's stock worth $587,000 after buying an additional 1,655 shares during the last quarter. Finally, Sierra Capital LLC bought a new stake in shares of Global Payments in the third quarter valued at approximately $285,000. Institutional investors and hedge funds own 89.76% 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.