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

Global Payments (NYSE:GPN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 11.540-11.700 for the period, compared to the consensus 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 %

Shares of Global Payments stock traded up $0.83 during trading on Friday, hitting $111.37. 3,191,218 shares of the stock traded hands, compared to its average volume of 2,029,470. The stock has a market cap of $28.43 billion, a P/E ratio of 22.10, a PEG ratio of 0.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.92. Global Payments has a twelve month low of $95.12 and a twelve month high of $141.77. The company has a fifty day moving average price of $127.93 and a two-hundred day moving average price of $124.72.

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

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Analysts Set New Price Targets

A number of analysts have commented on GPN shares. Mizuho reaffirmed a neutral rating and set a $129.00 target price on shares of Global Payments in a report on Wednesday, March 27th. Monness Crespi & Hardt lowered their target price on Global Payments from $175.00 to $165.00 and set a buy rating for the company in a report on Friday. Keefe, Bruyette & Woods reduced their price objective on Global Payments from $158.00 to $150.00 and set an outperform rating for the company in a research report on Thursday. TD Cowen lowered their price target on shares of Global Payments from $160.00 to $152.00 and set a buy rating on the stock in a research note on Thursday. Finally, Susquehanna dropped their target price on Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Global Payments currently has an average rating of Moderate Buy and a consensus price target of $150.00.

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.