KeyCorp Brokers Reduce Earnings Estimates for First Data Corp (FDC)

First Data Corp (NYSE:FDC) – KeyCorp reduced their Q1 2018 earnings per share (EPS) estimates for First Data in a report released on Monday. KeyCorp analyst J. Beck now anticipates that the business services provider will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.21. KeyCorp currently has a “Buy” rating and a $20.00 price target on the stock. KeyCorp also issued estimates for First Data’s Q4 2018 earnings at $0.36 EPS.

FDC has been the topic of several other research reports. BMO Capital Markets raised shares of First Data from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $21.50 in a research report on Monday, November 20th. Zacks Investment Research raised shares of First Data from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Sanford C. Bernstein raised shares of First Data from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $17.00 price objective on shares of First Data in a research note on Monday, October 30th. Finally, Barclays reaffirmed a “buy” rating and set a $24.00 price objective on shares of First Data in a research note on Tuesday, December 5th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. First Data presently has a consensus rating of “Buy” and a consensus price target of $20.28.

Shares of First Data (NYSE:FDC) opened at $15.84 on Thursday. First Data has a 12-month low of $14.67 and a 12-month high of $19.23. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $14,313.72, a P/E ratio of 10.22, a PEG ratio of 0.92 and a beta of 1.46.

First Data (NYSE:FDC) last posted its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. First Data had a net margin of 12.16% and a return on equity of 26.90%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of First Data by 8.6% in the 4th quarter. BlackRock Inc. now owns 22,617,758 shares of the business services provider’s stock valued at $377,942,000 after purchasing an additional 1,784,859 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of First Data by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 18,255,473 shares of the business services provider’s stock valued at $329,329,000 after purchasing an additional 289,758 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of First Data by 117.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after purchasing an additional 7,979,289 shares in the last quarter. Jana Partners LLC boosted its stake in shares of First Data by 35.2% in the 3rd quarter. Jana Partners LLC now owns 10,065,428 shares of the business services provider’s stock valued at $181,580,000 after purchasing an additional 2,623,313 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its stake in shares of First Data by 31.8% in the 4th quarter. Iridian Asset Management LLC CT now owns 8,905,329 shares of the business services provider’s stock valued at $148,808,000 after purchasing an additional 2,147,260 shares in the last quarter. 49.19% of the stock is owned by institutional investors and hedge funds.

In other First Data news, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.30% of the stock is owned by insiders.

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First Data 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.

Earnings History and Estimates for First Data (NYSE:FDC)

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