Piper Jaffray Companies Reaffirms “Overweight” Rating for First Data Corporation (FDC)
First Data Corporation (NYSE:FDC)‘s stock had its “overweight” rating restated by Piper Jaffray Companies in a research note issued to investors on Thursday. They presently have a $23.00 target price on the business services provider’s stock, up from their prior target price of $22.00. Piper Jaffray Companies’ target price would indicate a potential upside of 28.13% from the company’s previous close.
Several other equities analysts have also issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $18.00 price objective on shares of First Data Corporation in a research report on Thursday, June 1st. Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, August 2nd. BMO Capital Markets boosted their price objective on First Data Corporation from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Tuesday, May 9th. BidaskClub lowered First Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. assumed coverage on First Data Corporation in a research report on Friday, May 19th. They issued an “outperform” rating and a $18.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.70.
First Data Corporation (NYSE:FDC) opened at 17.95 on Thursday. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 32.40 and a beta of 1.77. First Data Corporation has a 52-week low of $12.74 and a 52-week high of $19.20. The stock’s 50 day moving average is $18.48 and its 200 day moving average is $16.67.
First Data Corporation (NYSE:FDC) last posted its earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. First Data Corporation had a return on equity of 26.89% and a net margin of 4.66%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. Equities research analysts forecast that First Data Corporation will post $1.53 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in First Data Corporation by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after buying an additional 452 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 last quarter. Independent Portfolio Consultants Inc. purchased a new position in First Data Corporation during the first quarter valued at $106,000. Nordea Investment Management AB boosted 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 last quarter. Finally, Nikko Asset Management Americas Inc. boosted 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 last quarter. Hedge funds and other institutional investors own 36.55% 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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