FY2017 Earnings Estimate for First Data Corporation (FDC) Issued By Craig Hallum
First Data Corporation (NYSE:FDC) – Research analysts at Craig Hallum dropped their FY2017 earnings estimates for shares of First Data in a report issued on Monday. Craig Hallum analyst B. Berning now anticipates that the business services provider will post earnings per share of $1.25 for the year, down from their prior forecast of $1.30. Craig Hallum currently has a “Buy” rating and a $25.00 target price on the stock. Craig Hallum also issued estimates for First Data’s Q4 2017 earnings at $0.36 EPS.
FDC has been the topic of several other reports. KeyCorp restated a “buy” rating and set a $20.00 price target on shares of First Data in a research report on Friday, October 27th. Cowen restated a “buy” rating and set a $20.00 price target on shares of First Data in a research report on Thursday, October 12th. ValuEngine lowered First Data from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets upgraded First Data from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $21.50 in a research report on Monday, November 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of First Data in a research report on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.63.
First Data (NYSE:FDC) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.34 EPS. First Data’s revenue for the quarter was up 4.8% compared to the same quarter last year.
In other news, insider Christopher M. Foskett sold 10,254 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the transaction, the insider now owns 430,294 shares in the company, valued at approximately $7,917,409.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The disclosure for this sale can be found here. In the last 90 days, insiders bought 25,200 shares of company stock valued at $423,964 and sold 77,445 shares valued at $1,394,613. Company insiders own 6.30% of the company’s stock.
Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in First Data by 8.9% during 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 last quarter. Advisor Group Inc. raised its stake in First Data by 113.3% during 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 last quarter. Macquarie Group Ltd. purchased a new position in First Data during the third quarter valued at $117,000. Ladenburg Thalmann Financial Services Inc. raised its stake in First Data by 254.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after buying an additional 5,173 shares during the last quarter. Finally, Riverhead Capital Management LLC purchased a new position in First Data during the second quarter valued at $135,000. Institutional investors and hedge funds own 49.07% of the company’s stock.
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About First Data
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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