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

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

Shares of NYSE GPN traded down $7.98 during mid-day trading on Wednesday, reaching $114.79. 732,144 shares of the company traded hands, compared to its average volume of 2,147,088. Global Payments has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $29.28 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. The stock has a fifty day simple moving average of $128.84 and a 200-day simple moving average of $124.93.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.01. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 earnings per share. Equities research analysts anticipate that Global Payments will post 10.94 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments’s dividend payout ratio (DPR) is currently 26.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on GPN. Susquehanna lifted their price objective on shares of Global Payments from $150.00 to $160.00 and gave the company a positive rating in a research note on Thursday, February 15th. UBS Group upped their target price on shares of Global Payments from $130.00 to $145.00 and gave the company a neutral rating in a research note on Thursday, February 15th. KeyCorp boosted their price target on shares of Global Payments from $135.00 to $155.00 and gave the company an overweight rating in a research report on Monday, January 8th. Mizuho reiterated a neutral rating and set a $129.00 target price on shares of Global Payments in a research report on Wednesday, March 27th. Finally, TheStreet upgraded shares of Global Payments from a c rating to a b- rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments has a consensus rating of Moderate Buy and an average target price of $151.92.

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.