Analysts forecast that Global Payments (NYSE:GPN) will post sales of $921.33 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Global Payments’ earnings. The lowest sales estimate is $910.93 million and the highest is $941.13 million. Global Payments posted sales of $803.88 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The business is scheduled to report its next earnings results before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Global Payments will report full year sales of $3.95 billion for the current year, with estimates ranging from $3.92 billion to $4.00 billion. For the next year, analysts forecast that the firm will report sales of $4.31 billion per share, with estimates ranging from $4.25 billion to $4.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Global Payments.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS.
Several research firms have weighed in on GPN. SunTrust Banks increased their price target on shares of Global Payments to $145.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Piper Jaffray upgraded shares of Global Payments from a “neutral” rating to an “overweight” rating in a research report on Friday, March 2nd. KeyCorp restated an “overweight” rating and set a $125.00 target price (up previously from $120.00) on shares of Global Payments in a research report on Friday, March 2nd. Cowen restated a “buy” rating and set a $127.00 target price on shares of Global Payments in a research report on Thursday, March 1st. Finally, Stephens restated a “buy” rating and set a $125.00 target price on shares of Global Payments in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $110.08.
In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $103.62, for a total transaction of $62,172.00. Following the sale, the director now owns 37,675 shares in the company, valued at approximately $3,903,883.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 5,300 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $118.20, for a total transaction of $626,460.00. Following the sale, the director now owns 46,497 shares in the company, valued at approximately $5,495,945.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,800 shares of company stock worth $1,718,237 in the last quarter. 0.98% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Global Payments in the fourth quarter valued at approximately $120,000. SWS Partners acquired a new stake in Global Payments in the fourth quarter valued at approximately $163,000. Tower Research Capital LLC TRC boosted its position in Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares in the last quarter. Klingenstein Fields & Co. LLC acquired a new stake in Global Payments in the fourth quarter valued at approximately $204,000. Finally, Calton & Associates Inc. acquired a new stake in Global Payments in the fourth quarter valued at approximately $251,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.
Global Payments stock traded up $1.08 during trading hours on Friday, hitting $111.01. The company had a trading volume of 298,451 shares, compared to its average volume of 1,078,281. The stock has a market cap of $17,501.50, a P/E ratio of 28.19, a P/E/G ratio of 1.44 and a beta of 1.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.15. Global Payments has a one year low of $77.64 and a one year high of $118.94.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is 1.00%.
Global Payments announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
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About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It 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, online reporting, industry compliance, and payment card industry security services.
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