Global Payments Inc. (NYSE:GPN) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.45-3.55 for the period, compared to the Thomson Reuters consensus EPS 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.
Shares of Global Payments Inc. (NYSE:GPN) opened at 76.44 on Wednesday. The company’s 50-day moving average price is $75.55 and its 200-day moving average price is $73.83. Global Payments Inc. has a 1-year low of $51.29 and a 1-year high of $79.93. The company has a market capitalization of $11.74 billion, a PE ratio of 37.47 and a beta of 1.09.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $939.50 million for the quarter, compared to analyst estimates of $260.42 million. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, equities analysts expect that Global Payments Inc. will post $3.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors 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 dividend yield of 0.05%. Global Payments’s dividend payout ratio is currently 1.95%.
A number of equities analysts recently commented on GPN shares. Zacks Investment Research lowered Global Payments from a buy rating to a hold rating in a research note on Tuesday, June 7th. Credit Suisse Group AG reiterated a buy rating on shares of Global Payments in a report on Monday, June 27th. Barclays PLC lowered their target price on Global Payments from $78.00 to $73.00 and set an equal weight rating for the company in a report on Thursday, July 7th. Deutsche Bank AG reiterated a buy rating and issued a $79.00 target price (up from $72.00) on shares of Global Payments in a report on Tuesday, July 12th. Finally, Nomura lifted their target price on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. Global Payments currently has an average rating of Buy and an average price target of $77.75.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $75.80, for a total value of $45,480.00. Following the transaction, the director now directly owns 44,716 shares in the company, valued at approximately $3,389,472.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total value of $485,745.00. Following the completion of the transaction, the director now owns 349,063 shares in the company, valued at $26,085,477.99. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GPN. Advisor Partners LLC acquired a new position in shares of Global Payments during the second quarter worth $235,000. Tredje AP fonden raised its position in shares of 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 in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of 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 in the last quarter. Frontier Wealth Management LLC raised its position in shares of 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 in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Global Payments during the second quarter worth $790,000. Institutional investors and hedge funds 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.
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