Global Payments (GPN) Scheduled to Post Quarterly Earnings on Tuesday

Global Payments (NYSE:GPN) is scheduled to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $2.55 per share for the quarter. Global Payments has set its FY 2023 guidance at $10.35-$10.44 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.19. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.19 billion. Global Payments had a net margin of 8.65% and a return on equity of 10.98%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 EPS. On average, analysts expect Global Payments to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Global Payments Stock Down 1.5 %

Global Payments stock opened at $102.78 on Friday. The firm has a market cap of $26.72 billion, a PE ratio of 34.26, a P/E/G ratio of 0.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average price is $118.87 and its two-hundred day moving average price is $111.31. Global Payments has a twelve month low of $92.27 and a twelve month high of $129.70.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, September 14th. Global Payments’s dividend payout ratio is 33.33%.

Insider Activity at Global Payments

In other news, CFO Joshua J. Whipple sold 37,096 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total transaction of $4,721,578.88. Following the completion of the transaction, the chief financial officer now owns 39,772 shares in the company, valued at approximately $5,062,180.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Global Payments news, CFO Joshua J. Whipple sold 37,096 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total value of $4,721,578.88. Following the completion of the transaction, the chief financial officer now owns 39,772 shares in the company, valued at approximately $5,062,180.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $119.47, for a total value of $240,851.52. Following the completion of the transaction, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its stake in Global Payments by 1.3% in the 1st quarter. State Street Corp now owns 10,819,457 shares of the business services provider’s stock worth $1,138,638,000 after purchasing an additional 134,403 shares during the period. Bank of America Corp DE increased its stake in shares of Global Payments by 24.8% during the first quarter. Bank of America Corp DE now owns 3,518,268 shares of the business services provider’s stock valued at $370,263,000 after buying an additional 698,913 shares during the period. Morgan Stanley increased its stake in shares of Global Payments by 50.0% during the fourth quarter. Morgan Stanley now owns 3,055,514 shares of the business services provider’s stock valued at $303,474,000 after buying an additional 1,018,338 shares during the period. Norges Bank purchased a new position in shares of Global Payments during the fourth quarter valued at approximately $261,300,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Global Payments by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,433,239 shares of the business services provider’s stock valued at $196,125,000 after buying an additional 17,882 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPN. Barclays increased their price target on shares of Global Payments from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Mizuho raised their target price on shares of Global Payments from $100.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $154.00 price objective on shares of Global Payments in a research note on Tuesday, October 3rd. The Goldman Sachs Group lifted their price objective on shares of Global Payments from $128.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group restated a “neutral” rating and set a $135.00 target price on shares of Global Payments in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.50.

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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.