Research Analysts Set Expectations for First Data Corporation’s Q3 2018 Earnings (FDC)
First Data Corporation (NYSE:FDC) – Equities researchers at Wedbush raised their Q3 2018 EPS estimates for shares of First Data Corporation in a research note issued on Monday. Wedbush analyst M. Katri now forecasts that the business services provider will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.38. Wedbush has a “Outperform” rating and a $20.00 price target on the stock.
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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year.
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A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of First Data Corporation from a “sell” rating to a “hold” rating in a report on Thursday. Nomura cut their price target on shares of First Data Corporation from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. BTIG Research restated a “buy” rating and issued a $23.00 price objective on shares of First Data Corporation in a research note on Tuesday. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price objective on shares of First Data Corporation in a research note on Monday. Finally, KeyCorp restated a “buy” rating and issued a $20.00 price objective on shares of First Data Corporation in a research note on Friday, October 27th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.55.
A number of institutional investors and hedge funds have recently modified their holdings of FDC. Pacer Advisors Inc. raised its stake in First Data Corporation by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 452 shares during the period. Advisor Group Inc. increased its stake in 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 bought a new stake in First Data Corporation in the 2nd quarter worth approximately $135,000. Riverhead Capital Management LLC bought a new stake in First Data Corporation in the 2nd quarter worth approximately $135,000. Finally, First Manhattan Co. increased its stake in 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. 39.25% of the stock is currently owned by institutional investors.
In related news, insider Barry C. Mccarthy sold 81,858 shares of First Data Corporation stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $18.17, for a total transaction of $1,487,359.86. Following the sale, the insider now owns 406,890 shares of the company’s stock, valued at approximately $7,393,191.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Shanahan bought 118,135 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $17.81 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, 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 currently owned by company insiders.
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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