Global Payments Inc. (NYSE:GPN) to Post Q3 2024 Earnings of $2.97 Per Share, William Blair Forecasts

Global Payments Inc. (NYSE:GPN) – Analysts at William Blair increased their Q3 2024 earnings per share (EPS) estimates for shares of Global Payments in a research note issued to investors on Wednesday, September 25th. William Blair analyst A. Jeffrey now expects that the business services provider will earn $2.97 per share for the quarter, up from their previous forecast of $2.93. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.07 per share. William Blair also issued estimates for Global Payments’ Q4 2024 earnings at $2.76 EPS, FY2024 earnings at $10.98 EPS, Q1 2025 earnings at $2.69 EPS, Q2 2025 earnings at $3.10 EPS, Q3 2025 earnings at $3.30 EPS, Q4 2025 earnings at $3.01 EPS and FY2025 earnings at $12.10 EPS.

A number of other research analysts also recently commented on the company. Morgan Stanley lowered their target price on Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday. BMO Capital Markets lowered their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday. TD Cowen lowered their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $130.00 price target on shares of Global Payments in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company began coverage on Global Payments in a research report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.36.

Global Payments Stock Up 3.4 %

NYSE GPN opened at $101.02 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $25.79 billion, a P/E ratio of 20.04, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments has a one year low of $91.60 and a one year high of $141.77. The stock has a 50 day moving average price of $105.57 and a 200-day moving average price of $109.32.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company posted $2.48 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Institutional Investors Weigh In On Global Payments

A number of institutional investors have recently added to or reduced their stakes in GPN. Corient Private Wealth LLC boosted its position in Global Payments by 4.1% during the fourth quarter. Corient Private Wealth LLC now owns 22,795 shares of the business services provider’s stock valued at $2,895,000 after purchasing an additional 904 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Global Payments by 28.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,978 shares of the business services provider’s stock worth $1,902,000 after acquiring an additional 3,294 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Global Payments by 6.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,634 shares of the business services provider’s stock worth $1,415,000 after acquiring an additional 621 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Global Payments by 73.9% in the fourth quarter. Advisory Services Network LLC now owns 5,924 shares of the business services provider’s stock worth $752,000 after acquiring an additional 2,517 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Global Payments by 5.3% in the fourth quarter. TD Asset Management Inc now owns 115,237 shares of the business services provider’s stock worth $14,635,000 after acquiring an additional 5,833 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. Global Payments’s dividend 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.