First Data Corporation (FDC) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of First Data Corporation (NYSE:FDC) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “First Data Corporation is a commerce-enabling technology and solutions company. The company's third-quarter 2017 earnings matched the Zacks Consensus Estimate and increased year over year. First Data’s focus on globalizing its offerings, acquisitions and strategic partnerships and a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk and has no intention of paying cash dividend at present. Year to date, the stock has outperformed the industry it belongs to. “
Other equities research analysts have also issued reports about the company. Piper Jaffray Companies reissued an overweight rating and set a $23.00 price target (up from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. Morgan Stanley upped their price target on First Data Corporation from $19.00 to $20.00 and gave the company an equal weight rating in a research report on Tuesday, August 8th. BidaskClub raised First Data Corporation from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Buckingham Research assumed coverage on First Data Corporation in a research report on Monday, October 2nd. They set a buy rating and a $23.00 price target on the stock. Finally, Cowen and Company reissued a buy rating and set a $20.00 price target on shares of First Data Corporation in a research report on Thursday, October 12th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $19.55.
First Data Corporation (NYSE FDC) traded up $0.32 during trading on Friday, hitting $17.07. The stock had a trading volume of 4,473,300 shares, compared to its average volume of 7,501,715. The stock has a market cap of $15,763.56, a PE ratio of 13.55, a P/E/G ratio of 1.15 and a beta of 1.69. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. First Data Corporation has a 12 month low of $13.96 and a 12 month high of $19.23.
First Data Corporation (NYSE:FDC) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. First Data Corporation had a return on equity of 26.60% and a net margin of 5.99%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. equities analysts forecast that First Data Corporation will post 1.29 EPS for the current year.
In related news, insider Jeff Shanahan purchased 77,453 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $18.04 per share, for a total transaction of $1,397,252.12. Following the transaction, the insider now directly owns 1,160,964 shares of the company’s stock, valued at approximately $20,943,790.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Bisignano purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $16.82 per share, with a total value of $420,500.00. Following the transaction, the chief executive officer now directly owns 7,107,398 shares in the company, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 365,317 shares of company stock valued at $6,562,054 and have sold 151,830 shares valued at $2,754,035. Company insiders own 6.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FDC. BlackRock Inc. boosted its position in shares of First Data Corporation by 4,828.8% in the 1st quarter. BlackRock Inc. now owns 14,148,797 shares of the business services provider’s stock valued at $219,306,000 after purchasing an additional 13,861,731 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of First Data Corporation by 117.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after purchasing an additional 7,979,289 shares during the period. Iridian Asset Management LLC CT acquired a new position in shares of First Data Corporation in the 3rd quarter valued at $121,916,000. Bank of New York Mellon Corp boosted its position in shares of First Data Corporation by 52.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,965,715 shares of the business services provider’s stock valued at $326,976,000 after purchasing an additional 6,151,153 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of First Data Corporation by 4,509.6% in the 2nd quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock valued at $82,732,000 after purchasing an additional 4,447,098 shares during the period. Institutional investors and hedge funds own 40.37% of the company’s stock.
First Data Corporation 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.
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