First Data Corp (NYSE:FDC) – Wedbush decreased their Q1 2018 earnings per share estimates for First Data in a report released on Monday. Wedbush analyst M. Katri now expects that the business services provider will post earnings of $0.21 per share for the quarter, down from their previous estimate of $0.26. Wedbush currently has a “Outperform” rating and a $20.00 price target on the stock. Wedbush also issued estimates for First Data’s Q2 2018 earnings at $0.32 EPS and Q3 2018 earnings at $0.32 EPS.
FDC has been the subject of a number of other reports. KeyCorp reissued a “buy” rating and issued a $20.00 price objective on shares of First Data in a report on Friday, October 27th. BMO Capital Markets raised First Data from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $21.50 in a report on Monday, November 20th. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Sanford C. Bernstein raised First Data from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $17.00 target price on shares of First Data in a research report on Monday, October 30th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.28.
First Data (NYSE:FDC) last issued its quarterly earnings data on Monday, February 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. First Data had a return on equity of 26.90% and a net margin of 12.16%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year.
In other news, insider Andrew Gelb sold 7,473 shares of the stock in a transaction 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 sale, the insider now owns 417,652 shares in the company, valued at approximately $7,150,202.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Macquarie Group Ltd. lifted its position in shares of First Data by 102.5% during the 4th quarter. Macquarie Group Ltd. now owns 13,163 shares of the business services provider’s stock valued at $220,000 after acquiring an additional 6,663 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of First Data by 113.3% during the 4th quarter. Verition Fund Management LLC now owns 67,077 shares of the business services provider’s stock valued at $1,121,000 after acquiring an additional 35,633 shares during the last quarter. Quad Capital Management Advisors LLC acquired a new stake in shares of First Data during the 4th quarter valued at $1,778,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of First Data during the 4th quarter valued at $19,804,000. Finally, LPL Financial LLC lifted its position in shares of First Data by 7.5% during the 4th quarter. LPL Financial LLC now owns 64,418 shares of the business services provider’s stock valued at $1,076,000 after acquiring an additional 4,467 shares during the last quarter. Institutional investors 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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