First Data Corp (FDC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of First Data Corp (NYSE:FDC) have received an average recommendation of “Buy” from the twenty-nine brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.14.
A number of brokerages have recently commented on FDC. Morgan Stanley reduced their target price on shares of First Data from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. BTIG Research reiterated a “buy” rating on shares of First Data in a research report on Tuesday, February 13th. Cantor Fitzgerald reiterated a “hold” rating and issued a $17.00 target price on shares of First Data in a research report on Monday, February 12th. Robert W. Baird upgraded shares of First Data from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, February 14th. Finally, BMO Capital Markets increased their target price on shares of First Data from $21.50 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th.
Several institutional investors and hedge funds have recently made changes to their positions in FDC. Xact Kapitalforvaltning AB boosted its stake in shares of First Data by 9.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 40,180 shares of the business services provider’s stock valued at $671,000 after purchasing an additional 3,566 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of First Data by 6.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 188,607 shares of the business services provider’s stock valued at $3,152,000 after purchasing an additional 12,000 shares during the period. Westside Investment Management Inc. purchased a new position in shares of First Data in the fourth quarter valued at approximately $103,000. Cowen Inc. purchased a new position in First Data in the fourth quarter worth approximately $4,091,000. Finally, Macquarie Group Ltd. raised its holdings in First Data by 102.5% during the fourth quarter. Macquarie Group Ltd. now owns 13,163 shares of the business services provider’s stock worth $220,000 after purchasing an additional 6,663 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.
First Data (NYSE:FDC) last issued its earnings results on Monday, February 12th. The business services provider reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $3.15 billion during 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 24.96%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. sell-side analysts expect that First Data will post 1.2 earnings per share for the current fiscal year.
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About First Data
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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