First Data Corp (FDC) Expected to Announce Quarterly Sales of $1.93 Billion

Brokerages expect that First Data Corp (NYSE:FDC) will post $1.93 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for First Data’s earnings. The highest sales estimate is $1.97 billion and the lowest is $1.90 billion. First Data posted sales of $1.83 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The company is expected to issue its next earnings results before the market opens on Monday, February 12th.

According to Zacks, analysts expect that First Data will report full-year sales of $1.93 billion for the current fiscal year, with estimates ranging from $7.37 billion to $7.44 billion. For the next year, analysts anticipate that the firm will report sales of $7.85 billion per share, with estimates ranging from $7.77 billion to $7.95 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover First Data.

First Data (NYSE:FDC) last announced its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.

Several research analysts recently weighed in on FDC shares. Barclays boosted their target price on First Data from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded First Data from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating and set a $22.00 price target on shares of First Data in a research note on Monday, November 13th. Nomura dropped their price target on First Data from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Bank of America upgraded First Data from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.11.

In related news, CEO Frank Bisignano bought 25,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $16.82 per share, for a total transaction of $420,500.00. Following the completion of the purchase, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Gelb sold 7,473 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the sale, the insider now owns 417,652 shares in the company, valued at approximately $7,150,202.24. The disclosure for this sale can be found here. Insiders bought 25,300 shares of company stock worth $425,624 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FDC. Advisor Group Inc. boosted its stake in shares of First Data by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after buying an additional 2,964 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of First Data in the third quarter worth about $117,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of First Data by 254.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after buying an additional 5,173 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of First Data in the fourth quarter worth about $131,000. Finally, First Manhattan Co. boosted its stake in shares of First Data by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 49.22% of the company’s stock.

First Data (NYSE FDC) opened at $16.30 on Tuesday. First Data has a one year low of $14.67 and a one year high of $19.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $15,050.00 and a price-to-earnings ratio of 21.45.

TRADEMARK VIOLATION WARNING: “First Data Corp (FDC) Expected to Announce Quarterly Sales of $1.93 Billion” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/06/first-data-corp-fdc-expected-to-announce-quarterly-sales-of-1-93-billion.html.

About First Data

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.

Get a free copy of the Zacks research report on First Data (FDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply