Global Payments Inc. (NYSE:GPN) Forecasted to Post Q3 2024 Earnings of $2.97 Per Share

Global Payments Inc. (NYSE:GPN) – Research analysts at William Blair raised their Q3 2024 earnings per share (EPS) estimates for shares of Global Payments in a note issued to investors on Wednesday, September 25th. William Blair analyst A. Jeffrey now expects that the business services provider will earn $2.97 per share for the quarter, up from their previous forecast of $2.93. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.07 per share. William Blair also issued estimates for Global Payments’ Q4 2024 earnings at $2.76 EPS, FY2024 earnings at $10.98 EPS, Q1 2025 earnings at $2.69 EPS, Q2 2025 earnings at $3.10 EPS, Q3 2025 earnings at $3.30 EPS, Q4 2025 earnings at $3.01 EPS and FY2025 earnings at $12.10 EPS.

Other analysts have also recently issued reports about the company. Monness Crespi & Hardt lowered their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of Global Payments in a report on Wednesday, September 18th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday. Seaport Res Ptn downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets dropped their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.36.

Global Payments Trading Up 3.4 %

Shares of GPN stock opened at $101.02 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average of $105.56 and a 200-day moving average of $109.52. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market cap of $25.79 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.32 billion. During the same period in the prior year, the company earned $2.48 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

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 issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments’s dividend payout ratio is currently 19.84%.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Several institutional investors and hedge funds have recently modified their holdings of GPN. Sanctuary Advisors LLC acquired a new position in shares of Global Payments during the 2nd quarter worth approximately $900,000. Brown Financial Advisors bought a new stake in shares of Global Payments in the second quarter valued at approximately $1,128,000. Heritage Oak Wealth Advisors LLC acquired a new stake in Global Payments during the second quarter worth approximately $333,000. Delphi Management Inc. MA increased its stake in Global Payments by 5.6% during the 2nd quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock worth $1,323,000 after acquiring an additional 730 shares during the period. Finally, Aurora Investment Counsel raised its holdings in Global Payments by 5.9% in the 2nd quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock valued at $1,093,000 after acquiring an additional 625 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.