Oppenheimer Holdings Equities Analysts Cut Earnings Estimates for First Data Corporation (FDC)
First Data Corporation (NYSE:FDC) – Stock analysts at Oppenheimer Holdings cut their FY2017 earnings per share estimates for First Data Corporation in a report released on Monday. Oppenheimer Holdings analyst G. Greene now forecasts that the business services provider will post earnings of $1.29 per share for the year, down from their prior estimate of $1.31.
Several other analysts also recently commented on the stock. Zacks Investment Research raised 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 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. Cowen and Company restated a “buy” rating and issued a $20.00 target price on shares of First Data Corporation in a research report on Thursday, October 12th. ValuEngine cut shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Wedbush raised shares of First Data Corporation from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $25.00 to $20.00 in a report on Friday, October 20th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.55.
ILLEGAL ACTIVITY NOTICE: This article was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/11/02/oppenheimer-holdings-equities-analysts-cut-earnings-estimates-for-first-data-corporation-fdc.html. First Data Corporation (NYSE:FDC) last released its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS.
Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after purchasing an additional 452 shares during the last quarter. Advisor Group Inc. grew its holdings in First Data Corporation by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 2,964 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in First Data Corporation in the second quarter valued at approximately $135,000. Riverhead Capital Management LLC acquired a new stake in First Data Corporation in the second quarter valued at approximately $135,000. Finally, First Manhattan Co. grew its holdings in First Data Corporation by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 39.25% of the company’s stock.
In other First Data Corporation news, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the sale, the insider now directly owns 430,294 shares in the company, valued at $7,917,409.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeff Shanahan purchased 77,453 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $18.04 per share, with a total value of $1,397,252.12. Following the completion of the purchase, the insider now owns 1,160,964 shares of the company’s stock, valued at approximately $20,943,790.56. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 340,317 shares of company stock worth $6,141,554 and have sold 151,830 shares worth $2,754,035. 6.30% of the stock is owned by company insiders.
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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