Q1 2018 EPS Estimates for First Data Corp (FDC) Reduced by SunTrust Banks

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.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of First Data from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday. Sanford C. Bernstein raised shares of First Data from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Robert W. Baird raised shares of First Data from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday. BMO Capital Markets boosted their price target on shares of First Data from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Zacks Investment Research raised shares of First Data from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.28.

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.

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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.

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

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