Brokerages Anticipate Global Payments Inc. (NYSE:GPN) Will Post Quarterly Sales of $902.58 Million
Brokerages predict that Global Payments Inc. (NYSE:GPN) will post $902.58 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Global Payments’ earnings. The lowest sales estimate is $891.38 million and the highest is $913.00 million. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that Global Payments will report full-year sales of $902.58 million for the current year, with estimates ranging from $3.41 billion to $3.47 billion. For the next year, analysts anticipate that the company will report sales of $3.73 billion per share, with estimates ranging from $3.68 billion to $3.79 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Global Payments.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share.
A number of research firms have weighed in on GPN. Stifel Nicolaus reiterated a “buy” rating and set a $103.00 target price on shares of Global Payments in a report on Friday. Compass Point downgraded Global Payments from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.72 to $64.63 in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Global Payments in a research report on Thursday. Barclays PLC upped their price objective on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada lowered their price objective on Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. Global Payments has a consensus rating of “Buy” and a consensus price target of $93.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio is currently 3.07%.
In related news, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of Global Payments stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the director now owns 183,177 shares in the company, valued at $17,401,815. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $87.72, for a total value of $52,632.00. Following the completion of the transaction, the director now owns 42,475 shares of the company’s stock, valued at approximately $3,725,907. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,702 shares of company stock valued at $2,847,076. 0.93% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in 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 in the last quarter. FMR LLC raised its position in 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 in the last quarter. Vanguard Group Inc. raised its position in 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 in the last quarter. BlackRock Inc. raised its position in 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 in the last quarter. Finally, State Street Corp raised its position in Global Payments by 1.1% in the first quarter. State Street Corp now owns 5,989,099 shares of the business services provider’s stock valued at $483,201,000 after buying an additional 63,278 shares in the last quarter. Institutional investors own 98.70% of the company’s stock.
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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