Global Payments Inc. (NYSE:GPN) Expected to Announce Quarterly Sales of $2.11 Billion

Analysts expect that Global Payments Inc. (NYSE:GPNGet Rating) will post $2.11 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Global Payments’ earnings. The lowest sales estimate is $2.08 billion and the highest is $2.13 billion. Global Payments reported sales of $1.94 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Global Payments will report full-year sales of $8.41 billion for the current financial year, with estimates ranging from $8.30 billion to $8.46 billion. For the next financial year, analysts expect that the company will post sales of $9.17 billion, with estimates ranging from $8.88 billion to $9.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Global Payments.

Global Payments (NYSE:GPNGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The business services provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.95 billion. Global Payments had a net margin of 11.66% and a return on equity of 8.79%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 EPS.

A number of equities research analysts have recently weighed in on GPN shares. Morgan Stanley lowered their price objective on shares of Global Payments from $173.00 to $162.00 and set an “equal weight” rating for the company in a report on Friday, February 11th. Raymond James lowered their price target on shares of Global Payments from $197.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 11th. KeyCorp lowered their price target on shares of Global Payments from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Mizuho lowered their price target on shares of Global Payments from $155.00 to $148.00 in a report on Tuesday, May 3rd. Finally, Citigroup lowered their price target on shares of Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $186.46.

In other news, Director William I. Jacobs sold 500 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $127.99, for a total value of $63,995.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO David M. Sheffield sold 1,006 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $132.55, for a total transaction of $133,345.30. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Global Payments by 3.5% during the 4th quarter. State Street Corp now owns 11,472,284 shares of the business services provider’s stock valued at $1,550,823,000 after acquiring an additional 387,950 shares during the period. Boston Partners grew its position in shares of Global Payments by 7.3% during the 1st quarter. Boston Partners now owns 5,051,165 shares of the business services provider’s stock valued at $691,018,000 after acquiring an additional 345,616 shares during the period. Geode Capital Management LLC grew its position in shares of Global Payments by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 4,766,200 shares of the business services provider’s stock valued at $642,546,000 after acquiring an additional 208,681 shares during the period. JPMorgan Chase & Co. grew its position in shares of Global Payments by 10.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,395,277 shares of the business services provider’s stock valued at $464,607,000 after acquiring an additional 326,254 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Global Payments by 1.3% during the 1st quarter. Victory Capital Management Inc. now owns 2,932,407 shares of the business services provider’s stock valued at $401,294,000 after acquiring an additional 37,385 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Shares of GPN opened at $125.49 on Thursday. The firm has a market cap of $35.33 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 0.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.06. Global Payments has a fifty-two week low of $114.80 and a fifty-two week high of $197.75. The firm has a 50 day moving average price of $132.20 and a 200-day moving average price of $134.23.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, June 9th. Global Payments’s dividend payout ratio is currently 28.65%.

About Global Payments (Get Rating)

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.

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

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