Global Payments (NYSE:GPN) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Global Payments (NYSE:GPN) announced its quarterly earnings results on Tuesday. The business services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.05, Briefing.com reports. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 18.11%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS. Global Payments updated its FY 2019 guidance to $6.00-6.15 EPS and its FY19 guidance to $6.00-6.15 EPS.

Shares of GPN stock traded down $3.52 during trading hours on Friday, hitting $161.38. The company’s stock had a trading volume of 920,320 shares, compared to its average volume of 1,315,115. The stock has a 50 day simple moving average of $163.07. The stock has a market cap of $26.31 billion, a PE ratio of 31.09, a PEG ratio of 1.72 and a beta of 1.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.01. Global Payments has a 12-month low of $94.81 and a 12-month high of $172.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) is currently 0.77%.

GPN has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Robert W. Baird boosted their price objective on shares of Global Payments from $174.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Piper Jaffray Companies set a $195.00 price objective on shares of Global Payments and gave the stock an “overweight” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating and set a $163.00 price objective for the company in a research note on Tuesday, May 7th. Finally, KeyCorp boosted their price objective on shares of Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $160.35.

In related news, Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $157.95, for a total transaction of $110,565.00. Following the completion of the sale, the director now directly owns 40,163 shares in the company, valued at $6,343,745.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total transaction of $622,030.00. Following the sale, the director now owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The disclosure for this sale can be found here. Insiders sold a total of 5,550 shares of company stock worth $831,625 over the last ninety days. Insiders own 0.88% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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Earnings History for Global Payments (NYSE:GPN)

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