KeyCorp Weighs in on Global Payments FY2024 Earnings

Global Payments Inc. (NYSE:GPN) – Equities research analysts at KeyCorp issued their FY2024 earnings per share estimates for Global Payments in a report released on Wednesday, December 18th. KeyCorp analyst A. Markgraff anticipates that the business services provider will post earnings per share of $11.01 for the year. KeyCorp currently has a “Overweight” rating and a $135.00 price target on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.01 per share. KeyCorp also issued estimates for Global Payments’ Q4 2024 earnings at $2.84 EPS.

Several other analysts have also issued reports on GPN. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. B. Riley reduced their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. BMO Capital Markets decreased their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reduced their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Price Performance

GPN stock opened at $112.03 on Monday. The company’s 50-day moving average price is $111.07 and its two-hundred day moving average price is $104.99. The firm has a market cap of $28.51 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.90 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPN. Principal Financial Group Inc. raised its holdings in shares of Global Payments by 2.8% during the third quarter. Principal Financial Group Inc. now owns 299,137 shares of the business services provider’s stock valued at $30,638,000 after purchasing an additional 8,078 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Global Payments by 10.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 8,569 shares of the business services provider’s stock valued at $873,000 after buying an additional 819 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new position in Global Payments during the 3rd quarter worth approximately $25,000. Franklin Resources Inc. boosted its holdings in Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after acquiring an additional 83,481 shares in the last quarter. Finally, Peapack Gladstone Financial Corp acquired a new stake in Global Payments in the third quarter valued at approximately $253,000. 89.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.89%. Global Payments’s payout ratio is 18.83%.

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.