Robert W. Baird Reaffirms “Hold” Rating for First Data Corporation (FDC)
Robert W. Baird reissued their hold rating on shares of First Data Corporation (NYSE:FDC) in a research note published on Friday. The firm currently has a $20.00 price target on the business services provider’s stock.
FDC has been the subject of a number of other reports. BTIG Research reaffirmed a buy rating and issued a $18.00 target price on shares of First Data Corporation in a report on Thursday, June 1st. Zacks Investment Research raised shares of First Data Corporation from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Wednesday, August 2nd. BidaskClub cut shares of First Data Corporation from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. BMO Capital Markets increased their target price on shares of First Data Corporation from $18.00 to $19.00 and gave the company a market perform rating in a report on Tuesday, May 9th. Finally, Raymond James Financial, Inc. initiated coverage on shares of First Data Corporation in a report on Friday, May 19th. They issued an outperform rating and a $18.00 target price for the company. Nine analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. First Data Corporation has an average rating of Buy and a consensus price target of $18.82.
Shares of First Data Corporation (NYSE FDC) opened at 18.16 on Friday. First Data Corporation has a 52-week low of $12.74 and a 52-week high of $19.20. The company’s 50-day moving average price is $18.28 and its 200-day moving average price is $16.92. The stock has a market cap of $16.76 billion, a PE ratio of 30.37 and a beta of 1.77.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that First Data Corporation will post $1.53 earnings per share for the current fiscal year.
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In related news, insider Jeff Shanahan bought 77,453 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $18.04 per share, with a total value of $1,397,252.12. Following the transaction, the insider now owns 1,160,964 shares of the company’s stock, valued at $20,943,790.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised 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 valued at $101,000 after buying an additional 452 shares during the period. Advisor Group Inc. raised 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 valued at $102,000 after buying an additional 2,964 shares during the period. Tower Research Capital LLC TRC raised 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 valued at $103,000 after buying an additional 6,153 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in First Data Corporation during the first quarter valued at approximately $106,000. Finally, Nordea Investment Management AB raised 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 valued at $118,000 after buying an additional 632 shares during the period. 37.54% of the stock is owned by institutional investors and hedge funds.
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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