First Data Corporation (FDC) Issues Earnings Results
First Data Corporation (NYSE:FDC) released its earnings results on Monday. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06, Bloomberg Earnings reports. First Data Corporation had a net margin of 4.41% and a return on equity of 26.15%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 3.3% compared to the same quarter last year.
First Data Corporation (NYSE:FDC) traded down 0.33% on Tuesday, reaching $18.12. 374,487 shares of the company were exchanged. First Data Corporation has a 12-month low of $12.71 and a 12-month high of $19.20. The stock has a 50 day moving average of $18.48 and a 200 day moving average of $16.63. The firm has a market capitalization of $16.65 billion, a PE ratio of 32.71 and a beta of 1.77.
A number of equities research analysts have issued reports on FDC shares. ValuEngine downgraded shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus started coverage on shares of First Data Corporation in a research report on Thursday, June 1st. They issued a “buy” rating and a $20.00 target price for the company. BTIG Research reiterated a “buy” rating and issued a $18.00 target price on shares of First Data Corporation in a research report on Thursday, June 1st. Citigroup Inc. increased their target price on shares of First Data Corporation from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, Zacks Investment Research upgraded 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 research report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. First Data Corporation currently has an average rating of “Buy” and an average target price of $18.44.
In other First Data Corporation news, insider Matthew Cagwin sold 8,195 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $16.42, for a total transaction of $134,561.90. Following the sale, the insider now directly owns 85,007 shares of the company’s stock, valued at $1,395,814.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Comerica Bank purchased a new stake in First Data Corporation during the fourth quarter valued at about $194,000. Creative Planning raised its stake in First Data Corporation by 56.2% in the first quarter. Creative Planning now owns 23,200 shares of the business services provider’s stock valued at $360,000 after buying an additional 8,350 shares during the period. State Board of Administration of Florida Retirement System raised its stake in First Data Corporation by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock valued at $4,860,000 after buying an additional 1,500 shares during the period. DnB Asset Management AS purchased a new stake in First Data Corporation during the first quarter valued at about $312,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in First Data Corporation during the first quarter valued at about $3,315,000. 36.55% of the stock is currently owned by hedge funds and other institutional investors.
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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