Equities research analysts expect Global Payments Inc. (NYSE:GPN) to announce $1.99 billion in sales for the current quarter, according to Zacks. Nine analysts have made estimates for Global Payments’ earnings. The lowest sales estimate is $1.94 billion and the highest is $2.04 billion. Global Payments posted sales of $1.75 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 4th.
On average, analysts expect that Global Payments will report full year sales of $7.72 billion for the current fiscal year, with estimates ranging from $7.59 billion to $7.79 billion. For the next financial year, analysts forecast that the business will post sales of $8.46 billion, with estimates ranging from $8.27 billion to $8.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Global Payments.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Sunday, August 1st. The business services provider reported $2.04 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.14. Global Payments had a net margin of 10.83% and a return on equity of 7.70%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 40.5% compared to the same quarter last year.
In related news, Director William I. Jacobs sold 500 shares of the stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $192.30, for a total value of $96,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connie D. Mcdaniel acquired 1,150 shares of Global Payments stock in a transaction on Tuesday, August 10th. The shares were purchased at an average price of $173.48 per share, with a total value of $199,502.00. Following the completion of the purchase, the director now owns 13,970 shares in the company, valued at approximately $2,423,515.60. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,686 shares of company stock valued at $800,475. 1.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. raised its holdings in Global Payments by 260.9% in the first quarter. Itau Unibanco Holding S.A. now owns 27,420 shares of the business services provider’s stock worth $5,527,000 after purchasing an additional 19,823 shares in the last quarter. Sculptor Capital LP acquired a new position in shares of Global Payments during the first quarter valued at about $104,623,000. Addenda Capital Inc. increased its holdings in shares of Global Payments by 18.1% during the second quarter. Addenda Capital Inc. now owns 12,277 shares of the business services provider’s stock valued at $2,302,000 after acquiring an additional 1,878 shares in the last quarter. Tiger Eye Capital LLC acquired a new position in shares of Global Payments during the first quarter valued at about $9,022,000. Finally, Cloverfields Capital Group LP increased its holdings in shares of Global Payments by 38.4% during the first quarter. Cloverfields Capital Group LP now owns 8,503 shares of the business services provider’s stock valued at $1,714,000 after acquiring an additional 2,360 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Shares of Global Payments stock opened at $161.64 on Friday. Global Payments has a 52-week low of $153.33 and a 52-week high of $220.81. The stock has a market capitalization of $47.48 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.16. The company has a fifty day moving average of $170.41 and a 200-day moving average of $190.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.12 and a current ratio of 1.12.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 24th. Investors of record on Friday, September 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. This is a positive change from Global Payments’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 9th. Global Payments’s dividend payout ratio (DPR) is presently 16.64%.
Global Payments declared that its Board of Directors has initiated a stock buyback program on Monday, August 2nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
About Global Payments
Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.
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