First Data (NYSE:FDC) had its price target boosted by Nomura from $21.00 to $26.00 in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has a neutral rating on the business services provider’s stock.
Several other equities analysts have also weighed in on FDC. Zacks Investment Research upgraded shares of First Data from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Wednesday, July 4th. Citigroup increased their price target on shares of First Data to $28.00 and gave the company a buy rating in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Wolfe Research started coverage on shares of First Data in a research report on Tuesday, July 17th. They set an outperform rating for the company. Morgan Stanley increased their price target on shares of First Data from $20.00 to $22.00 and gave the company a $22.60 rating in a research report on Thursday, July 19th. Finally, KeyCorp increased their price target on shares of First Data from $24.00 to $28.00 and gave the company an overweight rating in a research report on Friday, July 20th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. First Data presently has a consensus rating of Buy and a consensus price target of $27.25.
FDC opened at $23.41 on Wednesday. The stock has a market cap of $21.92 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.77 and a beta of 1.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. First Data has a fifty-two week low of $14.73 and a fifty-two week high of $26.62.
First Data (NYSE:FDC) last posted its quarterly earnings results on Monday, July 30th. The business services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. First Data had a net margin of 15.39% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts predict that First Data will post 1.24 earnings per share for the current year.
In other news, insider Jeff Shanahan sold 115,229 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $23.94, for a total value of $2,758,582.26. Following the sale, the insider now directly owns 256,100 shares of the company’s stock, valued at $6,131,034. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Guy Chiarello sold 150,000 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total transaction of $3,759,000.00. Following the completion of the sale, the president now directly owns 1,408,272 shares in the company, valued at $35,291,296.32. The disclosure for this sale can be found here. Insiders have sold 416,432 shares of company stock valued at $10,415,596 in the last quarter. Company insiders own 5.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of First Data in the second quarter worth about $171,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of First Data in the second quarter worth about $188,000. Nicolet Bankshares Inc. purchased a new stake in shares of First Data in the second quarter worth about $206,000. Marshall Wace LLP purchased a new stake in shares of First Data in the second quarter worth about $242,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of First Data in the second quarter worth about $246,000. 51.29% of the stock is currently owned by hedge funds and other institutional investors.
About First Data
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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