First Data (FDC) Releases Quarterly Earnings Results, Hits Expectations
First Data (NYSE:FDC) posted its quarterly earnings data on Monday. The business services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44, Bloomberg Earnings reports. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.11 billion. First Data had a net margin of 5.99% and a return on equity of 26.60%. First Data’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. First Data updated its FY18 guidance to $1.35-1.40 EPS.
First Data (FDC) opened at $16.25 on Monday. First Data has a one year low of $14.67 and a one year high of $19.23. The stock has a market cap of $14,620.00 and a price-to-earnings ratio of 20.83. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58.
Several analysts recently issued reports on FDC shares. Bank of America raised shares of First Data from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating on shares of First Data in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $26.00 price objective on shares of First Data in a report on Thursday, January 18th. Finally, Barclays reaffirmed a “buy” rating and set a $24.00 price objective on shares of First Data in a report on Tuesday, December 5th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $20.11.
Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. raised its stake in shares of First Data by 113.3% in the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after buying an additional 2,964 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of First Data in the 3rd quarter valued at $117,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of First Data by 254.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after buying an additional 5,173 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of First Data in the 4th quarter valued at $131,000. Finally, First Manhattan Co. raised its stake in shares of First Data by 200.0% in the 3rd quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 49.19% of the company’s stock.
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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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