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Global Payments (GPN) Stock Jumps 5.3%: Will It Continue to Soar?
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Global Payments (GPN - Free Report) shares ended the last trading session 5.3% higher at $118.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.2% loss over the past four weeks.
Global Payments scored a second consecutive day of price increase, driven by optimism over the ongoing recovery in the electronics payments space and rising demand for digital transactions. GPN's focus on top-tier strategic partnerships to grow its business and future-proof its underlying technology positions the company for long-term growth. Also, the company’s strong investment-grade balance sheet in combination with its stable free cash flow generation provides it with ample capital and financial flexibility.
This electronics payment processing company is expected to post quarterly earnings of $2.38 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.11 billion, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Global Payments, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GPN going forward to see if this recent jump can turn into more strength down the road.
Global Payments is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, DLocal (DLO - Free Report) , finished the last trading session 7% higher at $30.73. DLO has returned -1.2% over the past month.
For DLocal, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +66.7% from what the company reported a year ago. DLocal currently has a Zacks Rank of #3 (Hold).
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Global Payments (GPN) Stock Jumps 5.3%: Will It Continue to Soar?
Global Payments (GPN - Free Report) shares ended the last trading session 5.3% higher at $118.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.2% loss over the past four weeks.
Global Payments scored a second consecutive day of price increase, driven by optimism over the ongoing recovery in the electronics payments space and rising demand for digital transactions. GPN's focus on top-tier strategic partnerships to grow its business and future-proof its underlying technology positions the company for long-term growth. Also, the company’s strong investment-grade balance sheet in combination with its stable free cash flow generation provides it with ample capital and financial flexibility.
This electronics payment processing company is expected to post quarterly earnings of $2.38 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.11 billion, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Global Payments, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GPN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Global Payments is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, DLocal (DLO - Free Report) , finished the last trading session 7% higher at $30.73. DLO has returned -1.2% over the past month.
For DLocal, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +66.7% from what the company reported a year ago. DLocal currently has a Zacks Rank of #3 (Hold).