Global Payments Inc. (GPN) Releases FY17 Earnings Guidance
Global Payments Inc. (NYSE:GPN) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.45-3.55 for the period, compared to the Thomson Reuters consensus estimate of $3.47. The company issued revenue guidance of $3.2 – $3.3 billion, compared to the consensus revenue estimate of $3.25 billion.
A number of research firms recently issued reports on GPN. Nomura boosted their price objective on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Keefe, Bruyette & Woods boosted their price objective on Global Payments from $88.00 to $90.00 and gave the company an outperform rating in a report on Friday, July 29th. JPMorgan Chase & Co. restated a buy rating and set a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Barclays PLC upped their target price on Global Payments from $73.00 to $75.00 and gave the stock an equal weight rating in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $86.00 target price for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $77.75.
Shares of Global Payments Inc. (NYSE:GPN) opened at 79.04 on Thursday. Global Payments Inc. has a 52 week low of $51.29 and a 52 week high of $79.93. The stock has a market cap of $12.14 billion, a P/E ratio of 38.75 and a beta of 1.09. The stock has a 50 day moving average price of $75.71 and a 200-day moving average price of $73.87.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The company had revenue of $939.50 million for the quarter, compared to analysts’ expectations of $814.12 million. During the same period last year, the firm earned $0.79 earnings per share. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. Equities analysts predict that Global Payments Inc. will post $3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 1.95%.
In other Global Payments news, insider David E. Mangum sold 88,938 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total value of $6,676,575.66. Following the sale, the insider now directly owns 172,060 shares in the company, valued at $12,916,544.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the completion of the sale, the director now owns 44,716 shares in the company, valued at $3,389,472.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of GPN. Advisor Partners LLC acquired a new stake in Global Payments during the second quarter worth $235,000. Tredje AP fonden boosted its stake in Global Payments by 231.6% in the second quarter. Tredje AP fonden now owns 12,400 shares of the company’s stock worth $885,000 after buying an additional 8,660 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Global Payments by 42.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 27,900 shares of the company’s stock worth $1,992,000 after buying an additional 8,300 shares during the period. Frontier Wealth Management LLC boosted its stake in Global Payments by 35.5% in the second quarter. Frontier Wealth Management LLC now owns 4,244 shares of the company’s stock worth $303,000 after buying an additional 1,113 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in Global Payments during the second quarter worth approximately $790,000. Institutional investors own 96.56% 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 in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.