Global Payments (NYSE:GPN) Issues FY24 Earnings Guidance

Global Payments (NYSE:GPN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $11.54 to $11.70 for the period, compared to the consensus EPS 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 Price Performance

Shares of GPN stock traded up $0.83 during mid-day trading on Friday, hitting $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 50 day moving average price is $127.93 and its 200-day moving average price is $124.72. Global Payments has a 52-week low of $95.12 and a 52-week high of $141.77. The company 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.

Global Payments (NYSE:GPN) last released 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 business had revenue of $2.43 billion during 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%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 EPS. Equities research analysts forecast 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. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Wall Street Analyst Weigh In

GPN has been the topic of several research reports. Barclays reduced their price target on shares of Global Payments from $160.00 to $145.00 and set an overweight rating on the stock in a research report on Thursday. Monness Crespi & Hardt lowered their price target on shares of Global Payments from $175.00 to $165.00 and set a buy rating for the company in a report on Friday. TheStreet upgraded Global Payments from a c rating to a b- rating in a research report on Thursday, February 1st. TD Cowen decreased their price objective on Global Payments from $160.00 to $152.00 and set a buy rating on the stock in a research report on Thursday. Finally, Robert W. Baird dropped their target price on Global Payments from $182.00 to $150.00 and set an outperform rating for the company in a report 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, Global Payments presently has an average rating of Moderate Buy and a consensus target price of $150.00.

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.