First Data (FDC) Earns “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of First Data (NYSE:FDC) in a research note released on Tuesday.

“Clover Statistics and Signs of Stabilization in Bank JVs While investors in shares of First Data Corporation (FDC) are likely still have a few worries following the company’s release of its 4Q17 report this morning – the continued weakness of its joint ventures with bank partners and the potential impact of rising interest rates given that about half of its significant debt load is LIBOR-based/floating-rate – they were given reasons for optimism after the stock tumbled by about 15% in a little less than three weeks.”,” the firm’s analyst wrote.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated a hold rating and issued a $17.00 price target on shares of First Data in a research note on Monday. ValuEngine cut shares of First Data from a buy rating to a hold rating in a research note on Friday, February 2nd. Piper Jaffray Companies reiterated a buy rating and issued a $26.00 price target on shares of First Data in a research note on Thursday, January 18th. Bank of America upgraded shares of First Data from a neutral rating to a buy rating in a research note on Thursday, January 18th. Finally, Barclays reiterated a buy rating and issued a $24.00 price target on shares of First Data in a research note on Tuesday, December 5th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $20.28.

First Data (FDC) opened at $15.84 on Tuesday. The stock has a market cap of $14,627.70, a PE ratio of 10.22, a P/E/G ratio of 0.94 and a beta of 1.46. First Data has a one year low of $14.67 and a one year high of $19.23. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.02 and a quick ratio of 1.02.

First Data (NYSE:FDC) last announced its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.11 billion. First Data had a net margin of 12.16% and a return on equity of 26.90%. First Data’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. analysts expect that First Data will post 1.29 earnings per share for the current year.

In other news, insider Andrew Gelb sold 7,473 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of First Data by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 348 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of First Data by 1.0% during the 2nd quarter. Sterling Capital Management LLC now owns 148,173 shares of the business services provider’s stock valued at $2,697,000 after purchasing an additional 1,523 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of First Data by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,832 shares of the business services provider’s stock valued at $561,000 after purchasing an additional 2,221 shares during the last quarter. HighTower Advisors LLC increased its position in shares of First Data by 20.8% during the 2nd quarter. HighTower Advisors LLC now owns 15,572 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 2,677 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of First Data by 113.3% during the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 2,964 shares during the last quarter. 49.19% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This report was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/16/first-data-fdc-earns-buy-rating-from-btig-research.html.

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)

Receive News & Ratings for First Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply