Global Payments (NYSE:GPN) Releases 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.

Global Payments Stock Up 0.8 %

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. Global Payments has a 1 year low of $95.12 and a 1 year high of $141.77. The stock has a market capitalization 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 business’s 50-day moving average price is $127.93 and its two-hundred day moving average price is $124.72. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68.

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, beating the consensus estimate of $2.64 by $0.01. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. Global Payments’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 EPS. Analysts predict that Global Payments will post 10.94 earnings per share for the current 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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Global Payments’s payout ratio is currently 19.84%.

Analysts Set New Price Targets

Several research firms recently commented on GPN. Mizuho reaffirmed a neutral rating and set a $129.00 price objective on shares of Global Payments in a research report on Wednesday, March 27th. B. Riley lifted their price target on shares of Global Payments from $180.00 to $186.00 and gave the stock a buy rating in a research note on Monday, February 5th. Monness Crespi & Hardt dropped their target price on shares of Global Payments from $175.00 to $165.00 and set a buy rating on the stock in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $145.00 to $159.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Citigroup dropped their price target on Global Payments from $163.00 to $155.00 and set a buy rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average 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.