Global Payments (NYSE:GPN) Releases FY 2024 Earnings Guidance

Global Payments (NYSE:GPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 11.540-11.700 for the period, compared to the consensus EPS estimate of 11.590. The company issued revenue guidance of $9.2 billion-$9.3 billion, compared to the consensus revenue estimate of $9.2 billion. Global Payments also updated its FY24 guidance to $11.54 to $11.70 EPS.

Global Payments Stock Up 0.8 %

NYSE GPN traded up $0.83 during trading on Friday, reaching $111.37. 3,191,218 shares of the company’s stock traded hands, compared to its average volume of 2,029,470. Global Payments has a 12-month low of $95.12 and a 12-month high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.99. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.97. The company’s 50 day simple moving average is $127.93 and its two-hundred day simple moving average is $124.72.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.30 earnings per share. As a group, sell-side analysts forecast that Global Payments will post 10.94 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th 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 0.90%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Global Payments from $160.00 to $164.00 and gave the company an overweight rating in a research report on Thursday. BMO Capital Markets lowered their target price on shares of Global Payments from $143.00 to $128.00 and set a market perform rating for the company in a research note on Thursday. Royal Bank of Canada lifted their price target on Global Payments from $154.00 to $172.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Wedbush increased their price objective on Global Payments from $130.00 to $160.00 and gave the company an outperform rating in a report on Wednesday, January 10th. Finally, TheStreet raised Global Payments from a c rating to a b- rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Global Payments currently has an average rating of Moderate Buy and an average price target of $150.00.

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.