Morgan Stanley Cuts First Data (FDC) Price Target to $19.00

First Data (NYSE:FDC) had its target price cut by equities researchers at Morgan Stanley from $20.00 to $19.00 in a report released on Wednesday. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 22.58% from the stock’s previous close.

Several other research firms have also issued reports on FDC. Cantor Fitzgerald reiterated a “hold” rating and set a $17.00 target price on shares of First Data in a report on Monday. BMO Capital Markets lifted their target price on shares of First Data from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded shares of First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. SunTrust Banks lowered their target price on shares of First Data to $19.00 and set a “buy” rating for the company in a report on Wednesday, December 6th. Finally, Bank of America upgraded shares of First Data from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $20.19.

First Data (NYSE:FDC) opened at $15.50 on Wednesday. First Data has a 1-year low of $14.67 and a 1-year high of $19.23. The stock has a market cap of $15,070.96, a P/E ratio of 10.00, a PEG ratio of 0.96 and a beta of 1.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58.

First Data (NYSE:FDC) last released its earnings results on Monday, February 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. First Data had a net margin of 12.16% and a return on equity of 26.90%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the business earned $0.39 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. sell-side analysts predict that First Data will post 1.31 EPS for the current fiscal year.

In other First Data news, insider Andrew Gelb sold 7,473 shares of First Data stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the sale, the insider now owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 300 shares of company stock valued at $5,124. 6.30% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in First Data by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock worth $327,000 after purchasing an additional 348 shares during the period. The Manufacturers Life Insurance Company grew its position in First Data by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,832 shares of the business services provider’s stock worth $561,000 after purchasing an additional 2,221 shares during the period. HighTower Advisors LLC grew its position in First Data by 20.8% in the 2nd quarter. HighTower Advisors LLC now owns 15,572 shares of the business services provider’s stock worth $283,000 after purchasing an additional 2,677 shares during the period. Advisor Group Inc. grew its position in First Data by 113.3% in the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after purchasing an additional 2,964 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in First Data by 72.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock worth $130,000 after purchasing an additional 3,250 shares during the period. 49.19% of the stock is owned by institutional investors and hedge funds.

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First Data Company Profile

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.

Analyst Recommendations for First Data (NYSE:FDC)

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