First Data Corp (NYSE:FDC) – Equities research analysts at SunTrust Banks raised their Q2 2017 earnings per share (EPS) estimates for First Data Corp in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst A. Jeffrey now forecasts that the business services provider will earn $0.35 per share for the quarter, up from their prior estimate of $0.34. SunTrust Banks also issued estimates for First Data Corp’s Q3 2017 earnings at $0.36 EPS, Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.32 EPS and FY2018 earnings at $1.35 EPS.
A number of other research firms have also issued reports on FDC. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price (up previously from $15.00) on shares of First Data Corp in a research note on Tuesday, June 6th. Stifel Nicolaus initiated coverage on First Data Corp in a research note on Thursday, June 1st. They issued a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $19.00 target price on shares of First Data Corp in a research note on Tuesday, April 4th. Atlantic Securities reaffirmed a “neutral” rating and issued a $17.00 target price on shares of First Data Corp in a research note on Wednesday, April 12th. Finally, Instinet upped their target price on First Data Corp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $17.96.
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Shares of First Data Corp (FDC) opened at 18.37 on Thursday. The firm has a market cap of $16.88 billion, a PE ratio of 33.16 and a beta of 1.79. First Data Corp has a 12-month low of $9.90 and a 12-month high of $19.01. The company has a 50 day moving average price of $16.93 and a 200 day moving average price of $15.74.
First Data Corp (NYSE:FDC) last posted its quarterly earnings results on Monday, May 8th. The business services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. First Data Corp had a return on equity of 11.18% and a net margin of 0.86%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in First Data Corp by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock worth $157,000 after buying an additional 45 shares during the last quarter. Comerica Bank increased its stake in First Data Corp by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after buying an additional 391 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in First Data Corp by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 97,940 shares of the business services provider’s stock worth $1,518,000 after buying an additional 600 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in First Data Corp by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock worth $124,000 after buying an additional 616 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in First Data Corp by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock worth $118,000 after buying an additional 632 shares during the last quarter. Institutional investors and hedge funds own 36.55% of the company’s stock.
In other news, insider Matthew Cagwin sold 8,195 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.42, for a total transaction of $134,561.90. Following the completion of the sale, the insider now directly owns 85,007 shares in the company, valued at approximately $1,395,814.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.30% of the company’s stock.
First Data Corp Company Profile
First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.
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