Q3 Earnings Estimate for Global Payments Issued By B. Riley

Global Payments Inc. (NYSE:GPN) – Equities researchers at B. Riley decreased their Q3 2024 earnings estimates for Global Payments in a report released on Monday, October 21st. B. Riley analyst H. Goetsch now expects that the business services provider will earn $2.91 per share for the quarter, down from their prior forecast of $2.99. B. Riley currently has a “Buy” rating and a $194.00 target price on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.07 per share. B. Riley also issued estimates for Global Payments’ Q4 2024 earnings at $2.84 EPS and FY2024 earnings at $11.01 EPS.

A number of other research firms have also recently commented on GPN. Keefe, Bruyette & Woods decreased their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Morgan Stanley decreased their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Oppenheimer assumed coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. KeyCorp decreased their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $135.00 to $112.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.65.

Global Payments Trading Down 0.7 %

Shares of GPN opened at $99.30 on Tuesday. The firm has a 50-day moving average price of $105.79 and a 200 day moving average price of $105.30. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $25.35 billion, a P/E ratio of 19.70, a P/E/G ratio of 0.74 and a beta of 0.98.

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

Hedge Funds Weigh In On Global Payments

Hedge funds have recently modified their holdings of the business. Stanley Capital Management LLC grew its position in shares of Global Payments by 18.9% during the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after acquiring an additional 20,000 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Global Payments by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock worth $35,775,000 after purchasing an additional 29,289 shares during the period. LRI Investments LLC acquired a new stake in shares of Global Payments during the first quarter worth $32,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Global Payments by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock worth $40,414,000 after purchasing an additional 24,415 shares during the period. Finally, Gradient Investments LLC lifted its holdings in shares of Global Payments by 20.6% during the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 29,503 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.98% of the stock is currently owned by insiders.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 1.01%. Global Payments’s dividend payout ratio is currently 19.84%.

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.