First Data (NYSE:FDC)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research note issued on Tuesday.
The analysts wrote, “Clover Statistics and Signs of Stabilization in Bank JVs While investors in shares of First Data Corporation (FDC) are likely still have a few worries following the company’s release of its 4Q17 report this morning – the continued weakness of its joint ventures with bank partners and the potential impact of rising interest rates given that about half of its significant debt load is LIBOR-based/floating-rate – they were given reasons for optimism after the stock tumbled by about 15% in a little less than three weeks.””
A number of other equities analysts also recently commented on FDC. SunTrust Banks restated a “buy” rating on shares of First Data in a research note on Friday, October 20th. Wedbush upgraded First Data from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $25.00 to $20.00 in a research note on Friday, October 20th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 target price on shares of First Data in a research note on Friday, October 20th. KeyCorp restated a “buy” rating and issued a $20.00 target price on shares of First Data in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded First Data from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. First Data presently has a consensus rating of “Buy” and a consensus target price of $20.11.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, February 12th. The business services provider reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company earned $0.39 earnings per share. First Data’s quarterly revenue was up 7.0% on a year-over-year basis. equities analysts anticipate that First Data will post 1.28 EPS for the current year.
In other news, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the transaction, the insider now directly owns 417,652 shares in the company, valued at $7,150,202.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 300 shares of company stock valued at $5,124. Insiders own 6.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. lifted its position in 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 purchasing an additional 2,964 shares during the period. Macquarie Group Ltd. acquired a new stake in First Data in the third quarter worth approximately $117,000. Ladenburg Thalmann Financial Services Inc. lifted its position in 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 purchasing an additional 5,173 shares during the period. First Manhattan Co. lifted its position in 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 purchasing an additional 5,000 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in First Data in the fourth quarter worth approximately $131,000. Institutional investors and hedge funds own 49.19% of the company’s stock.
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.
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