BTIG Research Reaffirms Buy Rating for First Data Corporation (FDC)
BTIG Research reiterated their buy rating on shares of First Data Corporation (NYSE:FDC) in a research report released on Monday. They currently have a $23.00 price target on the business services provider’s stock, up from their prior price target of $18.00.
Several other brokerages have also recently issued reports on FDC. Wedbush restated a neutral rating and issued a $20.00 price objective (up from $15.00) on shares of First Data Corporation in a research note on Tuesday, June 6th. ValuEngine lowered First Data Corporation from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Stifel Nicolaus began coverage on First Data Corporation in a report on Thursday, June 1st. They set a buy rating and a $20.00 target price on the stock. BMO Capital Markets raised their target price on First Data Corporation from $18.00 to $19.00 and gave the stock a market perform rating in a report on Tuesday, May 9th. Finally, Instinet raised their target price on First Data Corporation from $16.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, May 9th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $18.16.
First Data Corporation (NYSE FDC) opened at 18.57 on Monday. The company’s 50 day moving average price is $17.16 and its 200-day moving average price is $15.84. The company has a market capitalization of $17.07 billion, a P/E ratio of 33.52 and a beta of 1.79. First Data Corporation has a 52 week low of $9.90 and a 52 week high of $19.01.
First Data Corporation (NYSE:FDC) last announced its quarterly earnings data on Monday, May 8th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.07. First Data Corporation had a return on equity of 26.15% and a net margin of 4.41%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that First Data Corporation will post $1.53 earnings per share for the current year.
In other First Data Corporation news, insider Matthew Cagwin sold 8,195 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $16.42, for a total value of $134,561.90. Following the sale, the insider now directly owns 85,007 shares of the company’s stock, valued at $1,395,814.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP increased its position in First Data Corporation by 16,790.0% in the fourth quarter. WFG Advisors LP now owns 1,689 shares of the business services provider’s stock valued at $203,000 after buying an additional 1,679 shares during the period. Tower Research Capital LLC TRC increased its position in First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock valued at $103,000 after buying an additional 6,153 shares during the period. Independent Portfolio Consultants Inc. purchased a new position in First Data Corporation during the first quarter valued at $106,000. Nordea Investment Management AB increased its position in First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock valued at $118,000 after buying an additional 632 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in First Data Corporation by 79.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,700 shares of the business services provider’s stock valued at $119,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 36.58% 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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