First Data Corporation’s (FDC) “Buy” Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their buy rating on shares of First Data Corporation (NYSE:FDC) in a report published on Thursday. They currently have a $21.00 price target on the business services provider’s stock.
Other analysts have also recently issued reports about the company. ValuEngine cut First Data Corporation from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Stifel Nicolaus started coverage on First Data Corporation in a report on Thursday, June 1st. They set a buy rating and a $20.00 price target on the stock. BTIG Research restated a buy rating and set a $18.00 price target on shares of First Data Corporation in a report on Thursday, June 1st. Citigroup Inc. boosted their price target on First Data Corporation from $18.00 to $19.00 and gave the stock a buy rating in a report on Tuesday, May 9th. Finally, Zacks Investment Research upgraded First Data Corporation from a hold rating to a buy rating and set a $21.00 price target on the stock in a report on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $18.82.
First Data Corporation (FDC) remained flat at $18.16 during mid-day trading on Thursday. The stock had a trading volume of 2,115,187 shares. First Data Corporation has a 52 week low of $12.74 and a 52 week high of $19.20. The company’s 50 day moving average price is $18.28 and its 200 day moving average price is $16.92. The stock has a market capitalization of $16.76 billion, a PE ratio of 30.37 and a beta of 1.77.
First Data Corporation (NYSE:FDC) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, analysts predict that First Data Corporation will post $1.53 earnings per share for the current year.
In other First Data Corporation news, insider Jeff Shanahan purchased 118,135 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the completion of the purchase, the insider now owns 1,122,038 shares in the company, valued at $19,983,496.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of FDC. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of First Data Corporation by 26.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,167 shares of the business services provider’s stock valued at $421,000 after buying an additional 5,666 shares during the period. Russell Investments Group Ltd. raised its position in shares of First Data Corporation by 445.4% in the first quarter. Russell Investments Group Ltd. now owns 105,543 shares of the business services provider’s stock valued at $1,635,000 after buying an additional 86,192 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of 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 worth $119,000 after buying an additional 3,400 shares during the last quarter. Independent Portfolio Consultants Inc. purchased a new position in shares of First Data Corporation during the first quarter worth $106,000. Finally, Acadian Asset Management LLC purchased a new position in shares of First Data Corporation during the first quarter worth $2,887,000. 37.54% of the stock is currently owned by hedge funds and other institutional investors.
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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