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Global Payments releases FY'18 outlook; buyback program raised

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Global Payments releases FY'18 outlook; buyback program raised

Global Payments Inc. expects to report adjusted EPS of $4.95 to $5.15 and adjusted net revenue of $3.03 billion to $3.12 billion for 2018.

The S&P Capital IQ consensus estimate for normalized EPS for 2018 is $4.81.

Additionally, the board authorized a dividend of 1 cent per share payable March 30 to shareholders of record as of March 16. The board also raised the total available authorization to the company's existing share repurchase program to $600 million.

Global Payments reported net income attributable to the company of $242 million, or $1.51 per share, in the fourth quarter of 2017, up from $24.1 million, or 16 cents per share, in the year-ago period.

Adjusted net income attributable to the company came in at $171.3 million, or $1.07 per share, in the fourth quarter of 2017, higher than $132.8 million, or 87 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the final three months of 2017 was $1.06.

For full year 2017, Global Payments disclosed net income attributable to the company of $468.4 million, or $ 3.01 per share, much better than $201.8 million, or $1.37 per share, in 2016.

Adjusted net income attributable to the company for 2017 was $624 million, or $4.01 per share, up from $468.6 million, or $3.19 per share, in 2016.

The S&P Capital IQ consensus normalized EPS estimate for 2017 was $4.00.