First Data Corporation (FDC) Posts Earnings Results, Meets Estimates
First Data Corporation (NYSE:FDC) issued its quarterly earnings data on Monday. The business services provider reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40, Bloomberg Earnings reports. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. During the same quarter last year, the business earned $0.34 earnings per share.
Shares of First Data Corporation (NYSE:FDC) opened at 18.97 on Monday. The company has a market cap of $17.51 billion, a P/E ratio of 31.72 and a beta of 1.74. First Data Corporation has a 1-year low of $13.01 and a 1-year high of $19.23. The stock’s 50 day moving average is $18.20 and its 200 day moving average is $17.70.
In other news, insider Thomas Joseph Higgins sold 31,718 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the transaction, the insider now directly owns 347,493 shares in the company, valued at approximately $6,306,997.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher M. Foskett sold 10,254 shares of the company’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 transaction of $188,673.60. Following the completion of the transaction, the insider now owns 430,294 shares in the company, valued at $7,917,409.60. The disclosure for this sale can be found here. In the last three months, insiders bought 340,317 shares of company stock valued at $6,141,554 and sold 151,830 shares valued at $2,754,035. Corporate insiders own 6.30% of the company’s stock.
A number of brokerages recently commented on FDC. Credit Suisse Group increased their price target on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 21st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $22.00 price target on shares of First Data Corporation in a report on Wednesday, July 26th. BidaskClub downgraded shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $25.00 price target (up previously from $20.00) on shares of First Data Corporation in a report on Tuesday, August 8th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.52.
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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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