KeyCorp Brokers Lower Earnings Estimates for First Data Corp (FDC)

First Data Corp (NYSE:FDC) – Investment analysts at KeyCorp dropped their Q1 2018 earnings per share (EPS) estimates for shares of First Data in a report issued on Thursday, according to Zacks Investment Research. KeyCorp analyst J. Beck now expects that the business services provider will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.22. KeyCorp currently has a “Buy” rating and a $20.00 target price on the stock.

Several other equities analysts have also issued reports on the stock. Bank of America upgraded shares of First Data from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded shares of First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Piper Jaffray Companies restated a “buy” rating and issued a $26.00 price objective on shares of First Data in a report on Thursday, January 18th. SunTrust Banks restated a “buy” rating on shares of First Data in a report on Friday, October 20th. Finally, Barclays restated a “buy” rating and issued a $24.00 price objective on shares of First Data in a report on Tuesday, December 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.19.

First Data (FDC) traded up $0.34 during mid-day trading on Monday, hitting $15.84. 10,173,939 shares of the stock traded hands, compared to its average volume of 7,830,000. First Data has a 1 year low of $14.67 and a 1 year high of $19.23. The stock has a market capitalization of $14,630.00 and a price-to-earnings ratio of 10.22. 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 (NYSE:FDC) last posted its quarterly earnings data on Monday, February 12th. The business services provider reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.11 billion. First Data had a return on equity of 26.90% and a net margin of 12.16%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS.

Several hedge funds have recently modified their holdings of FDC. Advisor Group Inc. boosted its holdings 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 buying an additional 2,964 shares during the period. Macquarie Group Ltd. bought a new position in First Data in the 3rd quarter worth $117,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in First Data by 254.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after buying an additional 5,173 shares during the period. Pittenger & Anderson Inc. boosted its holdings 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 buying an additional 3,250 shares during the period. Finally, Cerebellum GP LLC bought a new position in First Data in the 4th quarter worth $131,000. 49.19% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Andrew Gelb sold 7,473 shares of the business’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 owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 300 shares of company stock valued at $5,124. 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.

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