B. Riley Comments on Global Payments’ Q3 Earnings (NYSE:GPN)

Global Payments Inc. (NYSE:GPN) – Analysts at B. Riley dropped their Q3 2024 earnings per share estimates for Global Payments in a report released on Monday, October 21st. B. Riley analyst H. Goetsch now anticipates that the business services provider will post earnings per share of $2.91 for the quarter, down from their prior estimate of $2.99. B. Riley currently has a “Buy” rating and a $194.00 target price on the stock. The consensus estimate for Global Payments’ current full-year earnings is $11.07 per share. B. Riley also issued estimates for Global Payments’ Q4 2024 earnings at $2.84 EPS and FY2024 earnings at $11.01 EPS.

A number of other brokerages have also recently commented on GPN. Jefferies Financial Group decreased their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley decreased their price target on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. TD Cowen decreased their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. KeyCorp decreased their price target on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Finally, BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.82.

Global Payments Stock Down 2.3 %

Shares of NYSE GPN opened at $99.95 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The stock has a market capitalization of $25.51 billion, a P/E ratio of 19.83, a PEG ratio of 0.74 and a beta of 0.98. The stock’s fifty day moving average is $105.88 and its 200 day moving average is $105.48.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis.

Hedge Funds Weigh In On Global Payments

A number of institutional investors have recently modified their holdings of GPN. Pzena Investment Management LLC raised its position in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares during the period. AQR Capital Management LLC grew its holdings in Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares in the last quarter. Natixis grew its holdings in Global Payments by 830.2% during the first quarter. Natixis now owns 589,520 shares of the business services provider’s stock worth $78,795,000 after buying an additional 526,143 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Global Payments by 267.0% during the first quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock worth $90,602,000 after buying an additional 493,164 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after buying an additional 463,568 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.98% of the company’s stock.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.