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

Global Payments Inc. (NYSE:GPNGet Rating) – Research analysts at Wedbush lowered their FY2023 earnings per share (EPS) estimates for shares of Global Payments in a note issued to investors on Monday, August 1st. Wedbush analyst M. Katri now expects that the business services provider will earn $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.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their price objective on Global Payments from $175.00 to $155.00 in a research report on Monday, July 11th. Mizuho reduced their price objective on Global Payments from $148.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays reduced their price objective on Global Payments from $182.00 to $160.00 in a research report on Tuesday, May 3rd. Truist Financial raised their price objective on Global Payments from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price objective on Global Payments from $197.00 to $194.00 and set an “outperform” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $175.03.

Global Payments Price Performance

Shares of NYSE:GPN opened at $128.00 on Thursday. The business has a 50 day moving average price of $118.40 and a 200 day moving average price of $129.16. Global Payments has a twelve month low of $105.52 and a twelve month high of $179.27. The company has a market cap of $35.48 billion, a price-to-earnings ratio of 711.15, a PEG ratio of 0.88 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 0.87 and a debt-to-equity ratio of 0.45.

Global Payments (NYSE:GPNGet Rating) last announced its earnings results 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. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.

Global Payments declared that its board has initiated a stock buyback program on Monday, August 1st that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.25 dividend. 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 payout ratio is 555.59%.

Insider Buying and Selling at Global Payments

In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $130.10, for a total value of $2,114,385.20. Following the transaction, the executive vice president now directly owns 97,818 shares in the company, valued at approximately $12,726,121.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Calamos Advisors LLC boosted its position in shares of Global Payments by 15.4% in the 1st quarter. Calamos Advisors LLC now owns 93,807 shares of the business services provider’s stock worth $12,837,000 after purchasing an additional 12,504 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Global Payments by 50.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,337 shares of the business services provider’s stock worth $316,000 after purchasing an additional 788 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of Global Payments by 7.2% in the 4th quarter. Hartford Investment Management Co. now owns 29,389 shares of the business services provider’s stock worth $3,973,000 after purchasing an additional 1,970 shares during the last quarter. Truist Financial Corp boosted its position in shares of Global Payments by 3.2% in the 1st quarter. Truist Financial Corp now owns 1,018,948 shares of the business services provider’s stock worth $139,433,000 after purchasing an additional 31,217 shares during the last quarter. Finally, Atria Investments LLC boosted its position in shares of Global Payments by 58.2% in the 4th quarter. Atria Investments LLC now owns 12,817 shares of the business services provider’s stock worth $1,733,000 after purchasing an additional 4,715 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

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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