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

Global Payments (NYSE:GPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 11.540-11.700 for the period, compared to the consensus EPS 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

Several equities analysts have weighed in on GPN shares. B. Riley boosted their target price on shares of Global Payments from $180.00 to $186.00 and gave the company a buy rating in a report on Monday, February 5th. Morgan Stanley increased their price objective on Global Payments from $160.00 to $164.00 and gave the stock an overweight rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Global Payments from $154.00 to $172.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Monness Crespi & Hardt cut their price objective on Global Payments from $175.00 to $165.00 and set a buy rating for the company in a research report on Friday. Finally, 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. One 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. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $150.00.

Global Payments Stock Performance

Global Payments stock traded up $0.83 during trading hours on Friday, reaching $111.37. 3,191,218 shares of the stock were exchanged, 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 P/E/G ratio of 0.71 and a beta of 0.97. The firm’s 50 day moving average is $127.93 and its 200 day moving average is $124.72. 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 52-week low of $95.12 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. The firm 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 company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. Analysts predict that Global Payments will post 10.94 EPS 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. Investors of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is currently 19.84%.

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.