Brokers Issue Forecasts for Global Payments FY2024 Earnings

Global Payments Inc. (NYSE:GPN) – Investment 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 expects that the business services provider will post earnings of $11.01 per share for the year. KeyCorp 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.

A number of other research firms have also issued reports on GPN. Keefe, Bruyette & Woods lifted their target price on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. Monness Crespi & Hardt cut their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. The Goldman Sachs Group raised their target price on shares of Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.55.

Global Payments Stock Down 0.2 %

GPN opened at $111.81 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $28.46 billion, a PE ratio of 21.06, a P/E/G ratio of 0.90 and a beta of 1.00. The stock’s fifty day moving average is $111.07 and its 200-day moving average is $105.04. Global Payments has a one year low of $91.60 and a one year high of $141.77.

Hedge Funds Weigh In On Global Payments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stanley Capital Management LLC increased its stake in shares of Global Payments by 18.9% during the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after purchasing an additional 20,000 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after buying an additional 785,539 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Global Payments during the 3rd quarter worth $562,000. Poplar Forest Capital LLC acquired a new position in Global Payments in the 3rd quarter valued at $13,184,000. Finally, River Road Asset Management LLC raised its holdings in Global Payments by 158.6% in the 3rd quarter. River Road Asset Management LLC now owns 491,331 shares of the business services provider’s stock worth $50,322,000 after acquiring an additional 301,358 shares during the period. Institutional investors own 89.76% of the company’s stock.

Insider Transactions at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the acquisition, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Dividend Announcement

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

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.