Global Payments (NYSE:GPN) Updates FY24 Earnings Guidance

Global Payments (NYSE:GPN - Get Free Report) 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GPN. Morgan Stanley cut their target price on Global Payments from $164.00 to $156.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 25th. Sanford C. Bernstein downgraded Global Payments from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. B. Riley cut their target price on Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Royal Bank of Canada lowered their target price on shares of Global Payments from $158.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.52.

Global Payments Stock Performance

NYSE GPN traded up $2.07 on Wednesday, reaching $101.12. The stock had a trading volume of 997,186 shares, compared to its average volume of 2,250,731. The stock has a market cap of $25.81 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 0.74 and a beta of 0.98. The business's 50-day moving average price is $104.95 and its 200 day moving average price is $104.38. 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 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly 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 return on equity of 11.93% and a net margin of 14.26%. The business had revenue of $2.57 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the business earned $2.48 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Global Payments will post 11.06 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Global Payments's dividend payout ratio (DPR) is 19.84%.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 20,531 shares of the company's stock, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.98% of the stock is owned by corporate insiders.

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.

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