FY2023 EPS Estimates for Global Payments Inc. Reduced by Analyst (NYSE:GPN)


Global Payments Inc. (NYSE:GPN – Get Rating) – Wedbush dropped their FY2023 earnings per share (EPS) estimates for shares of Global Payments in a research report issued to clients and investors on Monday, August 1st. Wedbush analyst M. Katri now anticipates that the business services provider will post earnings of $9.89 per share for the year, down from their previous forecast of $10.18. The consensus estimate for Global Payments’ current full-year earnings is $9.09 per share.

Global Payments (NYSE:GPN – Get Rating) last released its quarterly earnings data on Monday, August 1st. The business services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.02. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.09 billion. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS.

Other equities analysts have also issued reports about the company. Robert W. Baird boosted their price target on Global Payments from $144.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays reduced their price target on Global Payments from $182.00 to $160.00 in a research report on Tuesday, May 3rd. The Goldman Sachs Group began coverage on Global Payments in a research report on Tuesday, May 17th. They set a “neutral” rating and a $151.00 price target on the stock. Oppenheimer reduced their price target on Global Payments from $152.00 to $144.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets lifted their price objective on Global Payments from $217.00 to $232.00 in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.03.

Global Payments Stock Performance

Global Payments stock opened at $128.00 on Thursday. The stock’s 50 day moving average price is $118.40 and its 200 day moving average price is $129.16. The firm has a market capitalization of $35.48 billion, a PE ratio of 711.15, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 0.87. Global Payments has a one year low of $105.52 and a one year high of $179.27.

Institutional Trading of Global Payments

Several institutional investors have recently modified their holdings of GPN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at $4,926,000. CWM LLC acquired a new stake in shares of Global Payments during the fourth quarter worth $326,000. Xponance Inc. raised its position in shares of Global Payments by 23.1% during the fourth quarter. Xponance Inc. now owns 18,280 shares of the business services provider’s stock worth $2,471,000 after purchasing an additional 3,436 shares during the period. Ieq Capital LLC raised its position in shares of Global Payments by 45.6% during the fourth quarter. Ieq Capital LLC now owns 4,803 shares of the business services provider’s stock worth $649,000 after purchasing an additional 1,505 shares during the period. Finally, Centaurus Financial Inc. raised its position in shares of Global Payments by 17.9% during the fourth quarter. Centaurus Financial Inc. now owns 2,833 shares of the business services provider’s stock worth $383,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Insiders Place Their Bets

In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the transaction, the executive vice president now owns 97,818 shares in the company, valued at approximately $12,726,121.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.19% of the stock is currently owned by insiders.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. Global Payments’s dividend payout ratio (DPR) is currently 555.59%.

Global Payments announced that its Board of Directors has initiated a share repurchase program on Monday, August 1st that authorizes the company to buy back $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 4.2% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

About Global Payments

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.

Further reading

Earnings History and Estimates for Global Payments (NYSE:GPN)



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