Brokerages expect Global Payments Inc. (NYSE:GPN) to announce earnings per share of $0.87 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Global Payments’ earnings, with the highest EPS estimate coming in at $0.89 and the lowest estimate coming in at $0.84. Global Payments reported earnings of $0.73 per share in the same quarter last year, which would suggest a positive year over year growth rate of 19.2%. The company is scheduled to issue its next earnings report before the market opens on Thursday, August 3rd.
On average, analysts expect that Global Payments will report full-year earnings of $3.73 per share for the current fiscal year, with EPS estimates ranging from $3.69 to $3.77. For the next fiscal year, analysts anticipate that the business will post earnings of $4.41 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for 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 for the quarter, topping the consensus estimate of $0.75 by $0.10. Global Payments had a return on equity of 17.38% and a net margin of 6.22%. The business had revenue of $919.76 million for the quarter, compared to analyst estimates of $767.09 million. During the same quarter last year, the company earned $0.64 EPS. The business’s quarterly revenue was up 46.9% on a year-over-year basis.
GPN has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Global Payments in a research note on Monday, May 15th. Atlantic Securities initiated coverage on Global Payments in a research note on Wednesday, April 12th. They issued an “overweight” rating and a $91.00 price target on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $97.00 price target (up previously from $91.00) on shares of Global Payments in a research note on Thursday, July 13th. Instinet restated a “reduce” rating and set a $79.00 price objective (up previously from $70.00) on shares of Global Payments in a research note on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $90.28.
Shares of Global Payments (GPN) traded up 0.03% during midday trading on Thursday, hitting $91.40. The stock had a trading volume of 336,176 shares. Global Payments has a one year low of $64.63 and a one year high of $93.52. The stock has a 50 day moving average of $90.58 and a 200-day moving average of $81.21. The company has a market cap of $13.94 billion, a P/E ratio of 71.91 and a beta of 1.09.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.0133 per share. The ex-dividend date was Wednesday, June 7th. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a dividend yield of 0.06%. Global Payments’s dividend payout ratio is 3.45%.
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In related news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $85.00, for a total value of $4,250,000.00. Following the completion of the transaction, the director now directly owns 267,552 shares of the company’s stock, valued at approximately $22,741,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $90.52, for a total value of $54,312.00. Following the completion of the transaction, the director now directly owns 41,275 shares of the company’s stock, valued at $3,736,213. The disclosure for this sale can be found here. Insiders sold a total of 73,602 shares of company stock valued at $6,372,512 over the last three months. Corporate insiders own 0.93% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of 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 worth $1,091,527,000 after buying an additional 13,105,378 shares during the period. FMR LLC raised its position in shares of Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock worth $1,202,023,000 after buying an additional 1,647,907 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Global Payments by 240.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,106,252 shares of the business services provider’s stock worth $89,252,000 after buying an additional 780,922 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Global Payments by 2,062.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 758,483 shares of the business services provider’s stock worth $61,195,000 after buying an additional 723,400 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of 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 worth $1,191,073,000 after buying an additional 341,212 shares during the period. 98.73% of the stock is owned by institutional investors and hedge funds.
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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