First Data Corporation Forecasted to Post Q3 2018 Earnings of $0.39 Per Share (FDC)
First Data Corporation (NYSE:FDC) – Equities researchers at Wedbush lifted their Q3 2018 EPS estimates for First Data Corporation in a note issued to investors on Monday. Wedbush analyst M. Katri now expects that the business services provider will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.38. Wedbush has a “Outperform” rating and a $20.00 price objective on the stock.
First Data Corporation (NYSE:FDC) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. First Data Corporation’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS.
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A number of other equities research analysts have also recently issued reports on FDC. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, July 21st. Credit Suisse Group reiterated an “outperform” rating on shares of First Data Corporation in a research note on Tuesday, September 5th. Cowen and Company reiterated a “buy” rating and issued a $20.00 target price on shares of First Data Corporation in a research note on Thursday, October 12th. ValuEngine cut First Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 target price on shares of First Data Corporation in a research note on Wednesday, July 26th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.55.
A number of institutional investors and hedge funds have recently modified their holdings of FDC. Comerica Bank increased its stake in First Data Corporation by 3.1% in the 1st quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after purchasing an additional 391 shares in the last quarter. Ameriprise Financial Inc. increased its stake in First Data Corporation by 336.6% in the 1st quarter. Ameriprise Financial Inc. now owns 77,887 shares of the business services provider’s stock worth $1,207,000 after purchasing an additional 60,047 shares in the last quarter. Alliancebernstein L.P. increased its stake in First Data Corporation by 2.1% in the 1st quarter. Alliancebernstein L.P. now owns 180,691 shares of the business services provider’s stock worth $2,801,000 after purchasing an additional 3,670 shares in the last quarter. Geode Capital Management LLC increased its stake in First Data Corporation by 8.3% in the 1st quarter. Geode Capital Management LLC now owns 1,437,417 shares of the business services provider’s stock worth $22,267,000 after purchasing an additional 110,524 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in First Data Corporation by 279.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 544,609 shares of the business services provider’s stock worth $8,441,000 after purchasing an additional 401,192 shares in the last quarter. 39.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jeff Shanahan bought 34,284 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average cost of $18.44 per share, with a total value of $632,196.96. Following the completion of the acquisition, the insider now directly owns 1,340,434 shares in the company, valued at $24,717,602.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of First Data Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $17.94, for a total value of $502,320.00. Following the transaction, the insider now directly owns 596,052 shares in the company, valued at $10,693,172.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 340,317 shares of company stock worth $6,141,554 and have sold 151,830 shares worth $2,754,035. 6.30% of the stock is owned by insiders.
About First Data Corporation
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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