First Data Corporation (FDC) Expected to Post Earnings of $0.40 Per Share
Brokerages expect First Data Corporation (NYSE:FDC) to post earnings per share of $0.40 for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for First Data Corporation’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.38. First Data Corporation posted earnings per share of $0.34 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.6%. The company is scheduled to report its next earnings report on Monday, November 6th.
On average, analysts expect that First Data Corporation will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.56. For the next fiscal year, analysts anticipate that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.47 to $1.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for First Data Corporation.
First Data Corporation (NYSE:FDC) last released its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS.
Several research analysts recently issued reports on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. BidaskClub upgraded shares of First Data Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley upped their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 target price on shares of First Data Corporation in a research report on Thursday. Finally, Craig Hallum reissued a “buy” rating and issued a $25.00 price target (up from $20.00) on shares of First Data Corporation in a research note on Tuesday, August 8th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.78.
First Data Corporation (FDC) remained flat at $18.16 during mid-day trading on Friday. 2,115,187 shares of the company were exchanged. The firm’s 50-day moving average is $18.28 and its 200 day moving average is $16.92. The firm has a market cap of $16.76 billion, a PE ratio of 30.37 and a beta of 1.77. First Data Corporation has a 12-month low of $12.74 and a 12-month high of $19.20.
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In other news, insider Jeff Shanahan acquired 77,453 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $18.04 per share, with a total value of $1,397,252.12. Following the completion of the purchase, the insider now owns 1,160,964 shares in the company, valued at approximately $20,943,790.56. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after buying an additional 452 shares during the last quarter. Advisor Group Inc. increased its position in First Data Corporation by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after buying an additional 2,964 shares during the last quarter. Tower Research Capital LLC TRC increased its position in First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock worth $103,000 after buying an additional 6,153 shares during the last quarter. Independent Portfolio Consultants Inc. bought a new position in First Data Corporation during the first quarter worth about $106,000. Finally, Nordea Investment Management AB increased its position in First Data Corporation 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. 37.54% of the stock is owned by institutional investors.
First Data Corporation 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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