Zacks: Brokerages Anticipate Global Payments Inc (GPN) to Announce $1.41 Earnings Per Share

Wall Street analysts expect Global Payments Inc (NYSE:GPN) to report $1.41 earnings per share (EPS) for the current quarter, Zacks reports. Eleven analysts have made estimates for Global Payments’ earnings, with estimates ranging from $1.38 to $1.44. Global Payments reported earnings of $1.15 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.6%. The firm is expected to issue its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Global Payments will report full year earnings of $5.15 per share for the current financial year, with EPS estimates ranging from $5.09 to $5.19. For the next year, analysts forecast that the business will post earnings of $5.97 per share, with EPS estimates ranging from $5.85 to $6.07. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Global Payments.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.07. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The firm had revenue of $982.50 million for the quarter, compared to analysts’ expectations of $968.75 million. During the same period in the prior year, the company earned $0.94 EPS. The firm’s revenue was up 18.1% on a year-over-year basis.

GPN has been the topic of several research reports. Zacks Investment Research lowered shares of Global Payments from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Morgan Stanley raised their price target on shares of Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a report on Thursday, July 19th. Buckingham Research raised their price target on shares of Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Deutsche Bank raised their price target on shares of Global Payments to $140.00 and gave the company a “buy” rating in a report on Friday. Finally, Wolfe Research initiated coverage on shares of Global Payments in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Two investment 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $118.84.

NYSE GPN opened at $128.59 on Friday. Global Payments has a one year low of $92.97 and a one year high of $129.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $20.24 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio is currently 2.99%.

In other news, insider Cameron M. Bready sold 57,737 shares of Global Payments stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the sale, the insider now owns 189,083 shares in the company, valued at $24,161,025.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of Global Payments stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the sale, the director now owns 90,149 shares in the company, valued at approximately $10,578,083.66. The disclosure for this sale can be found here. Insiders have sold 89,305 shares of company stock worth $11,302,459 in the last quarter. Insiders own 0.98% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GPN. FMR LLC raised its stake in shares of Global Payments by 12.5% during the second quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock valued at $1,082,860,000 after purchasing an additional 1,082,153 shares during the period. Janus Henderson Group PLC raised its stake in shares of Global Payments by 36.5% during the second quarter. Janus Henderson Group PLC now owns 3,501,061 shares of the business services provider’s stock valued at $390,333,000 after purchasing an additional 935,336 shares during the period. Temasek Holdings Private Ltd raised its stake in shares of Global Payments by 252.8% during the second quarter. Temasek Holdings Private Ltd now owns 876,176 shares of the business services provider’s stock valued at $97,685,000 after purchasing an additional 627,814 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Global Payments by 209.3% during the first quarter. The Manufacturers Life Insurance Company now owns 681,013 shares of the business services provider’s stock valued at $75,948,000 after purchasing an additional 460,813 shares during the period. Finally, Menora Mivtachim Holdings LTD. purchased a new stake in shares of Global Payments during the second quarter valued at approximately $39,267,000. Institutional investors own 96.33% of the company’s stock.

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.

Further Reading: Fiduciary

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