First Data Corporation (FDC) Upgraded at Wedbush
Wedbush upgraded shares of First Data Corporation (NYSE:FDC) from a neutral rating to an outperform rating in a research note published on Friday morning. Wedbush currently has $20.00 target price on the business services provider’s stock, down from their prior target price of $25.00. Wedbush also issued estimates for First Data Corporation’s Q3 2017 earnings at $0.35 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $1.31 EPS, Q1 2018 earnings at $0.28 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.46 EPS.
Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods restated a buy rating and issued a $21.00 target price on shares of First Data Corporation in a research report on Thursday, August 24th. BidaskClub upgraded shares of First Data Corporation from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Craig Hallum restated a buy rating and issued a $25.00 target price (up previously from $20.00) on shares of First Data Corporation in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of First Data Corporation from a hold rating to a buy rating and set a $21.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies restated a buy rating and issued a $22.00 target price on shares of First Data Corporation in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $19.42.
Shares of First Data Corporation (NYSE FDC) opened at 19.08 on Friday. First Data Corporation has a 12 month low of $13.01 and a 12 month high of $19.20. The company’s 50 day moving average price is $18.12 and its 200-day moving average price is $17.56. The firm has a market capitalization of $17.61 billion, a P/E ratio of 31.91 and a beta of 1.73.
First Data Corporation (NYSE:FDC) last issued its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that First Data Corporation will post $1.53 earnings per share for the current fiscal year.
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In related news, insider Christopher M. Foskett sold 10,254 shares of First Data Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $18.40, for a total transaction of $188,673.60. Following the completion of the transaction, the insider now owns 430,294 shares of the company’s stock, valued at $7,917,409.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Shanahan bought 118,135 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the purchase, the insider now directly owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 340,317 shares of company stock valued at $6,141,554 and have sold 151,830 shares valued at $2,754,035. 6.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in First Data Corporation by 8.9% during 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. raised its stake in First Data Corporation by 113.3% during 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 raised its stake in First Data Corporation by 1,276.6% during 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. Livforsakringsbolaget Skandia Omsesidigt bought a new position in First Data Corporation during the second quarter worth $135,000. Finally, Riverhead Capital Management LLC bought a new position in First Data Corporation during the second quarter worth $135,000. 39.08% 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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