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.
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.
ILLEGAL ACTIVITY WARNING: “KeyCorp Brokers Reduce Earnings Estimates for First Data Corp (FDC)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/02/15/keycorp-brokers-reduce-earnings-estimates-for-first-data-corp-fdc.html.
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.
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.