Brokerages Anticipate Global Payments Inc (GPN) Will Post Quarterly Sales of $842.73 Million
Equities research analysts expect Global Payments Inc (NYSE:GPN) to report $842.73 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Global Payments’ earnings, with the lowest sales estimate coming in at $832.8 million and the highest estimate coming in at $871.15 million. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Global Payments will report full-year sales of $842.73 million for the current fiscal year, with estimates ranging from $3.42 billion to $3.46 billion. For the next fiscal year, analysts expect that the company will post sales of $3.73 billion per share, with estimates ranging from $3.68 billion to $3.79 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Global Payments.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The business had revenue of $919.76 million for the quarter, compared to analyst estimates of $767.09 million. Global Payments had a net margin of 7.28% and a return on equity of 19.50%. Global Payments’s revenue was up 46.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share.
Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Credit Suisse Group AG raised their price objective on shares of Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Barclays PLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of Global Payments in a report on Friday, May 5th. Royal Bank of Canada reissued a “buy” rating and set a $90.00 price target on shares of Global Payments in a research note on Friday, May 5th. Finally, Piper Jaffray Companies increased their price target on shares of Global Payments from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, March 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $87.10.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $85.00, for a total value of $4,250,000.00. Following the sale, the director now directly owns 267,552 shares in the company, valued at $22,741,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $79.05, for a total transaction of $47,430.00. Following the completion of the sale, the director now owns 41,411 shares in the company, valued at $3,273,539.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,100 shares of company stock worth $5,384,174. Insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of GPN. Raiff Partners Inc. purchased a new stake in Global Payments during the fourth quarter valued at $104,000. Financial Architects Inc raised its stake in Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock valued at $149,000 after buying an additional 233 shares during the period. Morgan Dempsey Capital Management LLC raised its stake in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the period. Finally, WFG Advisors LP raised its stake in Global Payments by 262.4% in the fourth quarter. WFG Advisors LP now owns 2,464 shares of the business services provider’s stock valued at $161,000 after buying an additional 1,784 shares during the period. Institutional investors own 97.82% of the company’s stock.
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Global Payments (NYSE:GPN) traded down 0.644% on Friday, reaching $91.775. 730,974 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $84.02 and its 200 day moving average price is $77.66. The company has a market cap of $13.99 billion, a PE ratio of 72.207 and a beta of 1.05. Global Payments has a 12 month low of $64.63 and a 12 month high of $93.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a $0.0133 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This is a boost from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a yield of 0.06%. Global Payments’s dividend payout ratio (DPR) is presently 2.41%.
Global Payments Company Profile
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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