William Blair Research Analysts Decrease Earnings Estimates for Global Payments Inc. (NYSE:GPN)

Global Payments Inc. (NYSE:GPNGet Rating) – Investment analysts at William Blair lowered their Q2 2023 earnings estimates for shares of Global Payments in a research note issued on Monday, August 1st. William Blair analyst R. Napoli now anticipates that the business services provider will post earnings of $2.62 per share for the quarter, down from their prior estimate of $2.70. The consensus estimate for Global Payments’ current full-year earnings is $9.09 per share.

Several other analysts also recently weighed in on GPN. The Goldman Sachs Group initiated coverage on shares of Global Payments in a research note on Tuesday, May 17th. They issued a “neutral” rating and a $151.00 price target for the company. Mizuho lowered their price target on shares of Global Payments from $148.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Global Payments from $123.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup lowered their price target on shares of Global Payments from $195.00 to $180.00 in a research note on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Global Payments from $222.00 to $188.00 and set a “buy” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.03.

Global Payments Stock Performance

NYSE GPN opened at $128.00 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 0.87. The company has a market capitalization of $35.48 billion, a P/E ratio of 711.15, a P/E/G ratio of 0.88 and a beta of 1.04. The company has a fifty day moving average of $118.40 and a 200-day moving average of $129.16. Global Payments has a 52-week low of $105.52 and a 52-week high of $179.27.

Global Payments (NYSE:GPNGet Rating) last posted its quarterly earnings data on Monday, August 1st. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $1.92 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Global Payments by 3.5% in the fourth quarter. State Street Corp now owns 11,472,284 shares of the business services provider’s stock worth $1,550,823,000 after purchasing an additional 387,950 shares during the last quarter. Boston Partners raised its stake in shares of Global Payments by 7.3% in the first quarter. Boston Partners now owns 5,051,165 shares of the business services provider’s stock worth $691,018,000 after purchasing an additional 345,616 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Global Payments by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 4,766,200 shares of the business services provider’s stock worth $642,546,000 after purchasing an additional 208,681 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Global Payments by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 3,395,277 shares of the business services provider’s stock worth $464,607,000 after purchasing an additional 326,254 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Global Payments by 2.5% in the second quarter. Victory Capital Management Inc. now owns 3,006,129 shares of the business services provider’s stock worth $332,598,000 after purchasing an additional 73,722 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Insider Buying and Selling at Global Payments

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

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

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, September 15th. Global Payments’s payout ratio is 555.59%.

Global Payments Company Profile

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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.

See Also

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

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