First Data Corporation (FDC) Rating Reiterated by BTIG Research
First Data Corporation (NYSE:FDC)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a note issued to investors on Tuesday. They currently have a $23.00 price objective on the business services provider’s stock. BTIG Research’s target price suggests a potential upside of 29.21% from the company’s previous close.
The analysts wrote, “Progress on North America GBS, Deleveraging Pauses While much of investors’ focus on First Data Corporation (FDC) has been on the turnaround of the company’s North America Global Business Solutions (GBS) unit, during 3Q17 it was strong growth in the company’s Global Financial Solutions (GFS) and Network and Security Solutions (NSS) segment that drove a modest total segment EBITDA beat.””
A number of other research firms have also recently weighed in on FDC. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 price target on shares of First Data Corporation in a report on Monday. Zacks Investment Research raised First Data Corporation from a “sell” rating to a “hold” rating in a report on Friday. KeyCorp reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Data Corporation in a report on Friday. Wedbush raised First Data Corporation from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $25.00 to $20.00 in a report on Friday, October 20th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of First Data Corporation in a report on Friday, October 20th. Nine analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.52.
First Data Corporation (NYSE:FDC) traded down 0.79% during mid-day trading on Tuesday, hitting $17.66. The company had a trading volume of 4,513,087 shares. The company has a 50-day moving average price of $18.18 and a 200 day moving average price of $17.76. The firm has a market capitalization of $16.30 billion, a P/E ratio of 29.53 and a beta of 1.74. First Data Corporation has a 12 month low of $13.01 and a 12 month high of $19.23.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities analysts forecast that First Data Corporation will post $1.53 EPS for the current fiscal year.
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In other news, insider Jeff Shanahan purchased 77,453 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $18.04 per share, for a total transaction of $1,397,252.12. Following the completion of the purchase, the insider now directly owns 1,160,964 shares of the company’s stock, valued at $20,943,790.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher M. Foskett sold 10,254 shares of the company’s stock in a transaction 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 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. Over the last quarter, insiders purchased 340,317 shares of company stock worth $6,141,554 and sold 151,830 shares worth $2,754,035. Corporate insiders own 6.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new position in First Data Corporation during the second quarter worth $52,998,000. Stone Point Capital LLC acquired a new position in First Data Corporation during the fourth quarter worth $316,760,000. Winslow Capital Management LLC acquired a new position in First Data Corporation during the fourth quarter worth $413,602,000. Omega Advisors Inc. lifted its stake in First Data Corporation by 0.7% during the first quarter. Omega Advisors Inc. now owns 15,531,463 shares of the business services provider’s stock worth $199,980,000 after purchasing an additional 114,800 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in First Data Corporation during the fourth quarter worth $76,166,000. Institutional investors own 39.25% of the company’s stock.
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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