First Data Corporation (NYSE:FDC) – Research analysts at Oppenheimer Holdings cut their Q2 2018 EPS estimates for First Data Corporation in a research note issued on Wednesday. Oppenheimer Holdings analyst G. Greene now anticipates that the business services provider will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.42. Oppenheimer Holdings also issued estimates for First Data Corporation’s Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $1.34 EPS.
First Data Corporation (NYSE:FDC) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: “First Data Corporation Expected to Post Q2 2018 Earnings of $0.41 Per Share (FDC)” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/27/first-data-corporation-expected-to-post-q2-2018-earnings-of-0-41-per-share-fdc.html.
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $22.00 price target on shares of First Data Corporation in a report on Wednesday, July 26th. Zacks Investment Research raised First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 21st. BidaskClub cut First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price target on shares of First Data Corporation in a report on Thursday, August 24th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $25.00 price target (up previously from $20.00) on shares of First Data Corporation in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.35.
Shares of First Data Corporation (NYSE:FDC) traded up 0.77% during midday trading on Monday, hitting $18.22. The stock had a trading volume of 3,213,158 shares. The firm has a market cap of $16.82 billion, a PE ratio of 30.47 and a beta of 1.73. First Data Corporation has a 12-month low of $13.01 and a 12-month high of $19.20. The firm has a 50-day moving average of $18.10 and a 200 day moving average of $17.49.
In related news, insider Thomas Joseph Higgins sold 31,718 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $18.15, for a total transaction of $575,681.70. Following the completion of the sale, the insider now directly owns 347,493 shares of the company’s stock, valued at approximately $6,306,997.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Shanahan purchased 77,453 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $18.04 per share, with a total value of $1,397,252.12. Following the completion of the acquisition, the insider now directly owns 1,160,964 shares in the company, valued at $20,943,790.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 340,217 shares of company stock valued at $6,139,786 and have sold 151,830 shares valued at $2,754,035. Company insiders own 6.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in First Data Corporation by 8.7% during the 2nd quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock valued at $594,763,000 after purchasing an additional 2,614,956 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in First Data Corporation by 52.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,965,715 shares of the business services provider’s stock valued at $326,976,000 after purchasing an additional 6,151,153 shares in the last quarter. BlackRock Inc. increased its holdings in First Data Corporation by 12.2% during the 2nd quarter. BlackRock Inc. now owns 15,870,199 shares of the business services provider’s stock valued at $288,835,000 after purchasing an additional 1,721,402 shares in the last quarter. Glenview Capital Management LLC increased its holdings in First Data Corporation by 14.0% during the 2nd quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock valued at $222,394,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Credit Suisse AG increased its holdings in First Data Corporation by 5.7% during the 1st quarter. Credit Suisse AG now owns 7,740,994 shares of the business services provider’s stock valued at $119,985,000 after purchasing an additional 415,743 shares in the last quarter. 39.08% of the stock is owned by hedge funds and other institutional investors.
About First Data Corporation
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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