First Data Corp (NYSE:FDC) – SunTrust Banks reduced their Q1 2018 EPS estimates for First Data in a research note issued on Monday. SunTrust Banks analyst A. Jeffrey now forecasts that the business services provider will post earnings per share of $0.20 for the quarter, down from their prior estimate of $0.27. SunTrust Banks currently has a “Buy” rating and a $19.00 price target on the stock. SunTrust Banks also issued estimates for First Data’s Q2 2018 earnings at $0.31 EPS and Q3 2018 earnings at $0.30 EPS.
First Data (NYSE:FDC) last released its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. First Data had a net margin of 12.16% and a return on equity of 26.90%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year.
First Data (FDC) opened at $15.84 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data has a 12 month low of $14.67 and a 12 month high of $19.23. The company has a market cap of $14,313.72, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46.
A number of hedge funds and other institutional investors have recently modified their holdings of FDC. Canada Pension Plan Investment Board raised its holdings in 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 worth $266,844,000 after purchasing an additional 7,979,289 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in shares of First Data in the 3rd quarter worth about $121,916,000. Point72 Asset Management L.P. grew its position in shares of First Data by 1,230.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,574,786 shares of the business services provider’s stock worth $100,569,000 after buying an additional 5,155,686 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of First Data in the 3rd quarter worth about $54,501,000. Finally, Jana Partners LLC grew its position 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 worth $181,580,000 after buying an additional 2,623,313 shares during the period. Institutional investors and hedge funds own 49.19% of the company’s stock.
In related news, insider Andrew Gelb sold 7,473 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the sale, the insider now directly owns 417,652 shares in the company, valued at approximately $7,150,202.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.30% 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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