Global Payments Inc (GPN) Expected to Announce Earnings of $0.87 Per Share
Equities analysts expect Global Payments Inc (NYSE:GPN) to announce earnings per share (EPS) of $0.87 for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Global Payments’ earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.89. Global Payments reported earnings of $0.73 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.2%. The firm is scheduled to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Global Payments will report full-year earnings of $3.72 per share for the current financial year, with EPS estimates ranging from $3.66 to $3.77. For the next year, analysts expect that the business will post earnings of $4.41 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Global Payments.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. Global Payments had a return on equity of 19.50% and a net margin of 7.28%. The company had revenue of $919.76 million during the quarter, compared to analysts’ expectations of $767.09 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis.
GPN has been the subject of several research reports. Barclays PLC reiterated a “buy” rating and issued a $96.00 target price on shares of Global Payments in a research report on Monday, May 15th. Credit Suisse Group AG lifted their target price on Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. Instinet reiterated a “reduce” rating and issued a $79.00 target price (up previously from $70.00) on shares of Global Payments in a research report on Wednesday, May 17th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. Global Payments currently has a consensus rating of “Buy” and a consensus price target of $86.55.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 7,000 shares of Global Payments stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $80.00, for a total transaction of $560,000.00. Following the sale, the director now owns 292,662 shares of the company’s stock, valued at approximately $23,412,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, March 20th. The shares were sold at an average price of $80.03, for a total value of $48,018.00. Following the sale, the director now directly owns 48,493 shares in the company, valued at approximately $3,880,894.79. The disclosure for this sale can be found here. Insiders have sold a total of 64,100 shares of company stock worth $5,384,174 in the last ninety days. 1.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Global Payments by 0.8% in the first quarter. Wellington Management Group LLP now owns 16,940,401 shares of the business services provider’s stock valued at $1,366,752,000 after buying an additional 126,712 shares during the last quarter. FMR LLC increased its stake in shares of Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock valued at $1,202,023,000 after buying an additional 1,647,907 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Global Payments by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,762,938 shares of the business services provider’s stock valued at $1,191,073,000 after buying an additional 341,212 shares during the last quarter. BlackRock Inc. increased its stake in shares of Global Payments by 3,093.1% in the first quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock valued at $1,091,527,000 after buying an additional 13,105,378 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Global Payments by 1.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,659,658 shares of the business services provider’s stock valued at $462,247,000 after buying an additional 77,057 shares during the last quarter. 97.82% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Global Payments (NYSE:GPN) traded up 1.56% during midday trading on Wednesday, reaching $92.63. The company’s stock had a trading volume of 860,990 shares. Global Payments has a 1-year low of $64.63 and a 1-year high of $92.63. The firm has a market capitalization of $14.12 billion, a PE ratio of 72.88 and a beta of 1.05. The company’s 50-day moving average price is $83.20 and its 200 day moving average price is $77.44.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a dividend of $0.0133 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.05 annualized dividend and a yield of 0.06%. This is an increase from Global Payments’s previous quarterly dividend of $0.01. Global Payments’s payout ratio is presently 2.41%.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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