Global Payments (NYSE:GPN) posted its quarterly earnings data on Tuesday. The business services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.05, MarketWatch Earnings reports. Global Payments had a return on equity of 18.38% and a net margin of 17.48%. The company had revenue of $857.70 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business earned $1.15 earnings per share. Global Payments’s revenue for the quarter was down 17.4% compared to the same quarter last year. Global Payments updated its FY 2018 guidance to $5.12-5.22 EPS and its FY18 guidance to $5.12-5.22 EPS.
Global Payments stock traded up $0.58 during mid-day trading on Thursday, hitting $114.81. 20,320 shares of the company were exchanged, compared to its average volume of 1,453,860. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.09. Global Payments has a 1-year low of $95.32 and a 1-year high of $129.25. The firm has a market capitalization of $17.50 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.32 and a beta of 1.19.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. Global Payments’s dividend payout ratio is currently 1.00%.
Several equities research analysts have recently weighed in on GPN shares. Morgan Stanley increased their price objective on Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a research report on Thursday, July 19th. Citigroup increased their price objective on Global Payments from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, July 13th. KeyCorp reissued a “buy” rating on shares of Global Payments in a research report on Friday, August 3rd. Buckingham Research increased their price objective on Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $136.00 target price on shares of Global Payments in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $120.54.
In related news, insider Cameron M. Bready sold 57,737 shares of Global Payments stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total value of $7,377,633.86. Following the completion of the sale, the insider now directly owns 189,083 shares in the company, valued at $24,161,025.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of Global Payments stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $117.93, for a total value of $353,790.00. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock valued at $11,773,553 over the last quarter. Corporate insiders own 0.98% 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.
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