First Data Corporation (FDC) Given Average Recommendation of “Buy” by Brokerages
First Data Corporation (NYSE:FDC) has been assigned a consensus recommendation of “Buy” from the thirty-two research firms that are currently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $18.87.
A number of research firms have commented on FDC. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of First Data Corporation in a report on Thursday, August 10th. FIX began coverage on First Data Corporation in a report on Thursday, May 18th. They set an “outperform” rating and a $18.00 target price on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $19.00 target price (up previously from $18.00) on shares of First Data Corporation in a report on Wednesday, May 10th. Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, July 21st. Finally, Morgan Stanley increased their target price on First Data Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th.
First Data Corporation (NYSE:FDC) traded up 0.72% on Wednesday, reaching $18.21. The company’s stock had a trading volume of 3,179,720 shares. First Data Corporation has a 52 week low of $12.74 and a 52 week high of $19.20. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 30.45 and a beta of 1.77. The firm’s 50 day moving average price is $18.26 and its 200-day moving average price is $17.05.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. First Data Corporation’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities analysts predict that First Data Corporation will post $1.53 EPS for the current year.
In other First Data Corporation news, insider Jeff Shanahan bought 34,284 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average cost of $18.44 per share, for a total transaction of $632,196.96. Following the transaction, the insider now directly owns 1,340,434 shares in the company, valued at $24,717,602.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry C. Mccarthy sold 81,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $18.17, for a total value of $1,487,359.86. Following the completion of the sale, the insider now owns 406,890 shares in the company, valued at $7,393,191.30. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 340,217 shares of company stock worth $6,139,786. 6.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in First Data Corporation by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 452 shares during the period. Advisor Group Inc. increased its position in First Data Corporation by 113.3% in the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares during the period. Tower Research Capital LLC TRC increased its position in First Data Corporation by 1,276.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 6,153 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in First Data Corporation in the 2nd quarter valued at approximately $135,000. Finally, Riverhead Capital Management LLC acquired a new stake in First Data Corporation in the 2nd quarter valued at approximately $135,000. Hedge funds and other institutional investors own 39.11% of the company’s stock.
About First Data Corporation
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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