First Data Corp. (FDC) Trading Down 1.6%
First Data Corp. (NYSE:FDC) shares dropped 1.6% on Friday . The stock traded as low as $11.33 and last traded at $11.39, with a volume of 1,020,707 shares changing hands. The stock had previously closed at $11.58.
FDC has been the topic of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $15.00 price target on shares of First Data Corp. in a research report on Tuesday, March 29th. Zacks Investment Research upgraded shares of First Data Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Robert W. Baird restated a “hold” rating and issued a $12.00 price objective on shares of First Data Corp. in a report on Thursday, March 24th. Nomura Holdings Inc. began coverage on shares of First Data Corp. in a report on Tuesday, April 19th. They issued a “neutral” rating and a $14.00 price objective on the stock. Finally, Keefe, Bruyette & Woods began coverage on shares of First Data Corp. in a report on Tuesday, June 7th. They issued an “outperform” rating and a $15.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.54.
The firm’s market capitalization is $10.32 billion. The stock’s 50-day moving average price is $11.77 and its 200 day moving average price is $12.45.
First Data Corp. (NYSE:FDC) last issued its quarterly earnings results on Monday, April 25th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business earned $2.80 billion during the quarter, compared to analyst estimates of $1.71 billion. First Data Corp.’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts anticipate that First Data Corp. will post $1.31 EPS for the current fiscal year.
In other news, Director Scott C. Nuttall acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were bought at an average cost of $10.62 per share, for a total transaction of $1,062,000.00. Following the acquisition, the director now directly owns 75,000 shares in the company, valued at approximately $796,500. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph J. Plumeri acquired 250,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average price of $12.30 per share, for a total transaction of $3,075,000.00. Following the completion of the acquisition, the director now owns 478,664 shares in the company, valued at $5,887,567.20. The disclosure for this purchase can be found here.
Several institutional investors have recently added to or reduced their stakes in FDC. Robeco Institutional Asset Management B.V. purchased a new position in First Data Corp. during the fourth quarter worth approximately $1,202,000. Rhumbline Advisers bought a new stake in shares of First Data Corp. during the fourth quarter valued at approximately $1,404,000. Monashee Investment Management LLC bought a new stake in shares of First Data Corp. during the fourth quarter valued at approximately $1,602,000. Victory Capital Management Inc. bought a new stake in shares of First Data Corp. during the fourth quarter valued at approximately $1,958,000. Finally, State of Wisconsin Investment Board bought a new stake in shares of First Data Corp. during the fourth quarter valued at approximately $2,095,000.
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