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Global Payments Inc. (GPN), a leading provider in the payment technology and services industry with a market cap of $25.1 billion, delivers innovative solutions for electronic, card, and digital payments worldwide. Atlanta, Georgia-based company is expected to announce its fiscal Q2 earnings results on Tuesday, Aug. 6.
Ahead of this event, analysts expect GPN to report a profit of $2.76 per share, up 11.3% from the previous year's $2.48 per share. The company has surpassed Wall Street's bottom-line estimates in the last four quarters. The company reported an EPS of $2.48 per share in the most recent quarter, surpassing the consensus estimate by 2.9% due to a strong labor market boosting consumer spending.
For fiscal 2024, analysts expect GPN to report EPS of $11.09, up 13.4% from $9.78 in fiscal 2023.
GPN has declined 12.6% over the past 52 weeks, underperforming both the S&P 500 Index's ($SPX) 18.7% gain and the S&P 500 Technology Sector SPDR's (XLK) 20.3% gain over the same period.
Global Payments stock rose 2.1% on Feb. 14, driven by its robust Q4 earnings and revenue, despite a full-year revenue forecast that was lower than analysts' estimates. However, the stock plummeted 11.2% on May 1, largely due to concerns about the company's cautious outlook in a 'slightly weaker economic environment,' despite its Q1 earnings and revenue surpassing expectations.
Overall, analysts' consensus view on Global Payments stock is bullish, with a "Strong Buy" rating. Out of 32 analysts covering the stock, 23 give a "Strong Buy," three have a "Moderate Buy" rating, five give a "Hold" rating, and one suggests a "Strong Sell."
The average analyst price target for GPN is $143.06, suggesting a notable potential upside of 45.4% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
