First Data Corporation (FDC) Expected to Announce Quarterly Sales of $1.90 Billion
Wall Street brokerages expect that First Data Corporation (NYSE:FDC) will post sales of $1.90 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for First Data Corporation’s earnings. The highest sales estimate is $1.94 billion and the lowest is $1.87 billion. First Data Corporation reported sales of $1.82 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The firm is scheduled to issue its next earnings results on Monday, November 6th.
On average, analysts expect that First Data Corporation will report full year sales of $1.90 billion for the current financial year, with estimates ranging from $7.35 billion to $7.49 billion. For the next fiscal year, analysts expect that the business will post sales of $7.82 billion per share, with estimates ranging from $7.67 billion to $7.96 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for First Data Corporation.
First Data Corporation (NYSE:FDC) last released its 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. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.
FDC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, July 21st. Credit Suisse Group restated an “outperform” rating on shares of First Data Corporation in a research report on Tuesday, September 5th. BTIG Research restated a “buy” rating and set a $23.00 price objective (up from $18.00) on shares of First Data Corporation in a research report on Monday, June 19th. Morgan Stanley downgraded shares of First Data Corporation from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $19.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.05.
First Data Corporation (NYSE:FDC) traded down 0.865% on Wednesday, reaching $17.765. The company had a trading volume of 2,271,820 shares. The stock’s 50 day moving average is $18.12 and its 200-day moving average is $17.34. The stock has a market capitalization of $16.40 billion, a P/E ratio of 29.707 and a beta of 1.73. First Data Corporation has a 1-year low of $13.01 and a 1-year high of $19.20.
In other news, insider Jeff Shanahan purchased 118,135 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average price 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 in the company, valued at approximately $19,983,496.78. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 430,294 shares of the company’s stock, valued at approximately $7,917,409.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 340,217 shares of company stock worth $6,139,786 and have sold 151,830 shares worth $2,754,035. 6.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in FDC. Russell Investments Group Ltd. lifted its holdings in First Data Corporation by 445.4% in the first quarter. Russell Investments Group Ltd. now owns 105,543 shares of the business services provider’s stock valued at $1,635,000 after acquiring an additional 86,192 shares during the last quarter. Great West Life Assurance Co. Can grew its position in First Data Corporation by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 95,454 shares of the business services provider’s stock worth $1,477,000 after acquiring an additional 6,055 shares during the period. US Bancorp DE grew its position in First Data Corporation by 11.5% in the first quarter. US Bancorp DE now owns 28,207 shares of the business services provider’s stock worth $437,000 after acquiring an additional 2,916 shares during the period. Comerica Bank grew its position in First Data Corporation by 3.1% in the first quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after acquiring an additional 391 shares during the period. Finally, World Asset Management Inc purchased a new position in First Data Corporation in the first quarter worth approximately $173,000. 39.13% of the stock is currently owned by hedge funds and other institutional investors.
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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