Q3 Earnings Estimate for Global Payments Issued By B. Riley

Global Payments Inc. (NYSE:GPN) – B. Riley cut their Q3 2024 earnings per share estimates for Global Payments in a report issued on Monday, October 21st. B. Riley analyst H. Goetsch now expects that the business services provider will post earnings of $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 analysts also recently weighed in on the company. TD Cowen decreased their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their target price on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Stephens decreased their price objective on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Finally, Susquehanna reiterated a “positive” rating and set a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.65.

Global Payments Price Performance

Shares of NYSE GPN opened at $99.88 on Tuesday. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The stock has a market capitalization of $25.49 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $105.69 and a 200-day moving average of $105.26.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping 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 business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm posted $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.

Hedge Funds Weigh In On Global Payments

A number of institutional investors have recently added to or reduced their stakes in GPN. Pzena Investment Management LLC grew its stake in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Boston Partners raised its position in Global Payments by 0.3% in the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after purchasing an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Global Payments by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after purchasing an additional 193,137 shares during the last quarter. Davis Asset Management L.P. grew its holdings in shares of Global Payments by 18.2% during the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after purchasing an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Global Payments Announces Dividend

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

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.