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Why Global Payments Inc. Jumped on Wednesday

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Global Payments also raised its guidance for fiscal 2016 due to its strong performance during the third quarter. Constant currency adjusted net revenue is expected to grow toward the upper end of a 10%-12% range, while cash earnings are expected between $2.93 and $3.00 per share, a 16%-19% increase.

Now what: Global Payments had a solid quarter, and after a few months of languishing, the stock is once again near its 52-week high. Shares of Global Payments have surged over the past three years, more than tripling in that time.

GPN data by YCharts .

Going forward, Global Payments expects its acquisition of Heartland Payment Systems to close during its fiscal fourth quarter, meaning a portion of Heartland's results may be included in Global Payments' fourth-quarter numbers. The acquisition will boost adjusted net revenue to $3 billion per year, according to the company.

While Global Payments' results weren't too far above analyst expectations, a small earnings beat and improved guidance was enough to send the stock soaring.

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The article Why Global Payments Inc. Jumped on Wednesday originally appeared on Fool.com.

Timothy Green has no position in any stocks mentioned. The Motley Fool recommends Heartland Payment Systems. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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