First Data Corporation (NYSE:FDC) – Equities research analysts at Oppenheimer Holdings dropped their Q2 2018 earnings per share estimates for First Data Corporation in a research note issued on Wednesday. Oppenheimer Holdings analyst G. Greene now forecasts that the business services provider will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.42. Oppenheimer Holdings also issued estimates for First Data Corporation’s Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $1.34 EPS.

First Data Corporation (NYSE:FDC) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. First Data Corporation’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS.

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A number of other research firms also recently commented on FDC. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of First Data Corporation in a research note on Thursday, August 10th. Buckingham Research started coverage on First Data Corporation in a research note on Monday, October 2nd. They issued a “buy” rating and a $23.00 price target for the company. Cowen and Company reiterated a “buy” rating and issued a $20.00 price target on shares of First Data Corporation in a research note on Thursday, October 12th. BidaskClub upgraded First Data Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded First Data Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. First Data Corporation currently has an average rating of “Buy” and an average price target of $19.35.

Shares of First Data Corporation (NYSE FDC) traded up 0.78% during mid-day trading on Monday, reaching $18.15. The company’s stock had a trading volume of 2,250,025 shares. First Data Corporation has a 52 week low of $13.01 and a 52 week high of $19.20. The firm has a market capitalization of $16.75 billion, a PE ratio of 30.35 and a beta of 1.74. The firm has a 50-day moving average of $18.10 and a 200-day moving average of $17.49.

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in shares of First Data Corporation by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,153 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 45 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in First Data Corporation by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock worth $327,000 after acquiring an additional 348 shares during the last quarter. Comerica Bank lifted its position in First Data Corporation by 3.1% during the 1st quarter. Comerica Bank now owns 12,943 shares of the business services provider’s stock worth $202,000 after acquiring an additional 391 shares during the last quarter. Pacer Advisors Inc. lifted its position in First Data Corporation by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after acquiring an additional 452 shares during the last quarter. Finally, HL Financial Services LLC lifted its position in First Data Corporation by 3.5% during the 2nd quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock worth $327,000 after acquiring an additional 600 shares during the last quarter. 39.08% of the stock is owned by institutional investors and hedge funds.

In related news, insider Thomas Joseph Higgins sold 31,718 shares of First Data Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $18.15, for a total value of $575,681.70. Following the completion of the sale, the insider now owns 347,493 shares of the company’s stock, valued at approximately $6,306,997.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff Shanahan acquired 118,135 shares of First Data Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $17.81 per share, with a total value of $2,103,984.35. Following the purchase, the insider now owns 1,122,038 shares in the company, valued at approximately $19,983,496.78. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 340,217 shares of company stock valued at $6,139,786 and have sold 151,830 shares valued at $2,754,035. Company insiders own 6.30% 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.

Earnings History and Estimates for First Data Corporation (NYSE:FDC)

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