Global Payments Inc (GPN) Expected to Announce Quarterly Sales of $1.03 Billion

Wall Street brokerages expect that Global Payments Inc (NYSE:GPN) will report $1.03 billion in sales for the current quarter, Zacks reports. Eleven analysts have provided estimates for Global Payments’ earnings, with estimates ranging from $1.01 billion to $1.04 billion. Global Payments posted sales of $930.41 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.7%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Global Payments will report full year sales of $3.95 billion for the current fiscal year, with estimates ranging from $3.93 billion to $3.98 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.30 billion, with estimates ranging from $3.72 billion to $4.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Global Payments.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. The firm had revenue of $982.50 million during the quarter, compared to analysts’ expectations of $968.75 million. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share.

A number of research analysts have recently commented on GPN shares. Zacks Investment Research cut shares of Global Payments from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Morgan Stanley increased their target price on shares of Global Payments from $119.00 to $124.00 and gave the stock a “$117.08” rating in a report on Thursday, July 19th. Buckingham Research increased their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Deutsche Bank increased their target price on shares of Global Payments to $140.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, BMO Capital Markets started coverage on shares of Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 target price for the company. One equities 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 company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $119.83.

GPN stock opened at $116.50 on Friday. The stock has a market capitalization of $18.96 billion, a PE ratio of 29.05, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments has a 12 month low of $95.32 and a 12 month high of $129.25.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.

In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $119.01, for a total transaction of $71,406.00. Following the completion of the sale, the director now owns 44,269 shares of the company’s stock, valued at approximately $5,268,453.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $116.07, for a total transaction of $362,718.75. Following the sale, the director now directly owns 80,324 shares of the company’s stock, valued at approximately $9,323,206.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,955 shares of company stock valued at $11,773,553. 0.98% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its position in shares of Global Payments by 28.2% during the 1st quarter. Russell Investments Group Ltd. now owns 53,017 shares of the business services provider’s stock worth $5,888,000 after buying an additional 11,656 shares during the period. LPL Financial LLC grew its position in shares of Global Payments by 22.8% during the 1st quarter. LPL Financial LLC now owns 18,989 shares of the business services provider’s stock worth $2,113,000 after buying an additional 3,530 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Global Payments during the 1st quarter worth approximately $2,141,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Global Payments by 13.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 47,847 shares of the business services provider’s stock worth $5,337,000 after buying an additional 5,649 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Global Payments during the 1st quarter worth approximately $603,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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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