Global Payments Inc. (GPN) Releases FY17 Earnings Guidance
Global Payments Inc. (NYSE:GPN) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.45-3.55 for the period, compared to the Thomson Reuters consensus estimate of $3.47. The company issued revenue guidance of $3.2 – $3.3 billion, compared to the consensus revenue estimate of $3.25 billion.
Several equities research analysts have recently weighed in on the company. Nomura upped their price target on Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. Keefe, Bruyette & Woods boosted their price objective on Global Payments from $88.00 to $90.00 and gave the stock an outperform rating in a report on Friday, July 29th. JPMorgan Chase & Co. reissued a buy rating and set a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Barclays PLC boosted their price objective on Global Payments from $73.00 to $75.00 and gave the stock an equal weight rating in a report on Friday, July 29th. Finally, Zacks Investment Research raised Global Payments from a hold rating to a buy rating and set a $86.00 price objective for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $77.75.
Global Payments Inc. (NYSE:GPN) opened at 79.04 on Thursday. Global Payments Inc. has a 12-month low of $51.29 and a 12-month high of $79.93. The company has a market cap of $12.14 billion, a P/E ratio of 38.75 and a beta of 1.09. The firm has a 50-day moving average price of $75.71 and a 200-day moving average price of $73.87.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The firm earned $939.50 million during the quarter, compared to analysts’ expectations of $814.12 million. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The company’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. On average, equities research analysts forecast that Global Payments Inc. will post $3.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio (DPR) is 1.95%.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the completion of the transaction, the director now owns 349,063 shares in the company, valued at approximately $26,085,477.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $73.62, for a total value of $44,172.00. Following the transaction, the director now owns 43,516 shares of the company’s stock, valued at approximately $3,203,647.92. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Advisor Partners LLC acquired a new position in Global Payments during the second quarter worth about $235,000. Tredje AP fonden boosted its position in Global Payments by 231.6% in the second quarter. Tredje AP fonden now owns 12,400 shares of the company’s stock worth $885,000 after buying an additional 8,660 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Global Payments by 42.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 27,900 shares of the company’s stock worth $1,992,000 after buying an additional 8,300 shares during the last quarter. Frontier Wealth Management LLC boosted its position in Global Payments by 35.5% in the second quarter. Frontier Wealth Management LLC now owns 4,244 shares of the company’s stock worth $303,000 after buying an additional 1,113 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Global Payments during the second quarter worth about $790,000. Institutional investors own 96.56% of the company’s stock.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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