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.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. B. Riley upped their price target on Global Payments from $180.00 to $186.00 and gave the stock a buy rating in a research note on Monday, February 5th. KeyCorp reduced their target price on shares of Global Payments from $155.00 to $145.00 and set an overweight rating for the company in a research note on Thursday. StockNews.com downgraded shares of Global Payments from a buy rating to a hold rating in a report on Thursday. Keefe, Bruyette & Woods cut their price target on shares of Global Payments from $158.00 to $150.00 and set an outperform rating for the company in a report on Thursday. Finally, TheStreet raised Global Payments from a c rating to a b- rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $150.00.

Global Payments Price Performance

NYSE:GPN traded up $0.83 during trading hours on Friday, reaching $111.37. 3,191,218 shares of the company traded hands, compared to its average volume of 2,029,470. 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’s 50-day moving average is $127.93 and its 200-day moving average is $124.72. The stock has a market cap of $28.43 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.71 and a beta of 0.97. Global Payments has a 1-year low of $95.12 and a 1-year high of $141.77.

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

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s dividend payout ratio is presently 19.84%.

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.