Global Payments (NYSE:GPN) Issues FY24 Earnings Guidance

Global Payments (NYSE:GPN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $11.54 to $11.70 for the period, compared to the consensus earnings per share estimate of $11.62. The company issued revenue guidance of $9.170 billion to $9.300 billion, compared to the consensus revenue estimate of $9.24 billion. Global Payments also updated its FY 2024 guidance to 11.540-11.700 EPS.

Global Payments Stock Performance

Shares of NYSE:GPN traded up $0.83 during trading on Friday, reaching $111.37. The company had a trading volume of 3,191,218 shares, 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 stock’s fifty day moving average price is $127.93 and its 200 day moving average price is $124.72. Global Payments has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The firm has a market capitalization 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.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. Global Payments’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Global Payments will post 10.94 EPS for the current 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Global Payments’s dividend payout ratio is currently 19.84%.

Analyst Ratings Changes

Several equities research analysts have commented on GPN shares. TD Cowen decreased their target price on shares of Global Payments from $160.00 to $152.00 and set a buy rating on the stock in a research report on Thursday. Monness Crespi & Hardt decreased their price target on Global Payments from $175.00 to $165.00 and set a buy rating on the stock in a research note on Friday. Citigroup dropped their price objective on Global Payments from $163.00 to $155.00 and set a buy rating for the company in a research note on Thursday. Keefe, Bruyette & Woods decreased their target price on Global Payments from $158.00 to $150.00 and set an outperform rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Global Payments from $145.00 to $159.00 and gave the company a neutral rating in a research report on Thursday, February 15th. One 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, the company currently has an average rating of Moderate Buy and a consensus target price 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.