First Data Corporation to Post Q1 2018 Earnings of $0.27 Per Share, SunTrust Banks Forecasts (FDC)
First Data Corporation (NYSE:FDC) – SunTrust Banks issued their Q1 2018 earnings per share (EPS) estimates for shares of First Data Corporation in a note issued to investors on Tuesday. SunTrust Banks analyst A. Jeffrey anticipates that the business services provider will post earnings of $0.27 per share for the quarter. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for First Data Corporation’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.38 EPS and Q4 2018 earnings at $0.39 EPS.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. ILLEGAL ACTIVITY WARNING: This news story was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/02/first-data-corporation-to-post-q1-2018-earnings-of-0-27-per-share-suntrust-banks-forecasts-fdc.html.
Several other brokerages have also recently weighed in on FDC. Piper Jaffray Companies reissued a “buy” rating and issued a $22.00 price objective on shares of First Data Corporation in a research note on Wednesday, July 26th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 target price on shares of First Data Corporation in a report on Monday. Zacks Investment Research lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, KeyCorp restated a “buy” rating and issued a $20.00 target price on shares of First Data Corporation in a report on Friday, October 27th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. First Data Corporation currently has an average rating of “Buy” and an average price target of $19.55.
In related news, insider Thomas Joseph Higgins sold 31,718 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the sale, the insider now owns 347,493 shares in the company, valued at approximately $6,306,997.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff Shanahan bought 118,135 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $17.81 per share, for a total transaction of $2,103,984.35. Following the acquisition, the insider now directly owns 1,122,038 shares in the company, valued at $19,983,496.78. The disclosure for this purchase can be found here. In the last 90 days, 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.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of First Data Corporation by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after acquiring an additional 452 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of First Data Corporation by 113.3% in the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after acquiring an additional 2,964 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of First Data Corporation in the 2nd quarter worth about $135,000. Riverhead Capital Management LLC acquired a new stake in shares of First Data Corporation in the 2nd quarter worth about $135,000. Finally, First Manhattan Co. raised its holdings in shares of First Data Corporation by 200.0% in the 3rd quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after acquiring an additional 5,000 shares during the last quarter. 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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