BTIG Research Lowers First Data (FDC) to Neutral

First Data (NYSE:FDC) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

FDC has been the subject of several other research reports. KeyCorp lowered their price target on shares of First Data from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $22.00 price target on shares of First Data in a research report on Monday, December 17th. Mizuho restated a “buy” rating and set a $21.00 price objective on shares of First Data in a report on Thursday, January 3rd. Barclays started coverage on shares of First Data in a report on Wednesday, November 14th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, SunTrust Banks restated a “buy” rating on shares of First Data in a report on Monday, January 7th. Eighteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. First Data has a consensus rating of “Hold” and a consensus price target of $24.99.

Shares of NYSE:FDC traded down $0.28 during trading on Thursday, hitting $24.87. 3,532,462 shares of the company’s stock were exchanged, compared to its average volume of 26,154,468. First Data has a 1-year low of $14.73 and a 1-year high of $26.62. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.37 and a beta of 2.31.

First Data (NYSE:FDC) last issued its quarterly earnings results on Wednesday, February 6th. The business services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. First Data had a net margin of 17.48% and a return on equity of 19.33%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company earned $0.44 EPS. First Data’s revenue was up 2.9% on a year-over-year basis. Equities research analysts anticipate that First Data will post 1.2 earnings per share for the current year.

In other First Data news, insider Cynthia A. Armine-Klein sold 99,510 shares of First Data stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $19.00, for a total value of $1,890,690.00. Following the transaction, the insider now owns 662,767 shares of the company’s stock, valued at $12,592,573. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FDC. First Manhattan Co. lifted its position in shares of First Data by 4.8% in the fourth quarter. First Manhattan Co. now owns 11,000 shares of the business services provider’s stock worth $186,000 after purchasing an additional 500 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in shares of First Data by 9.6% in the fourth quarter. ST Germain D J Co. Inc. now owns 12,340 shares of the business services provider’s stock worth $209,000 after purchasing an additional 1,080 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of First Data by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,382 shares of the business services provider’s stock worth $345,000 after purchasing an additional 1,100 shares in the last quarter. First Personal Financial Services lifted its position in shares of First Data by 57.9% in the fourth quarter. First Personal Financial Services now owns 4,049 shares of the business services provider’s stock worth $68,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of First Data by 5.4% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,475 shares of the business services provider’s stock worth $532,000 after purchasing an additional 1,624 shares in the last quarter. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

First Data Company Profile

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.

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