Zacks Investment Research upgraded shares of First Data (NYSE:FDC) from a sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “First Data continues to benefit from innovative product and services portfolio and growing enterprise business. The company’s expanding clientele that includes the likes of Alipay and RBL bank remains a significant growth driver. First Data’s strong focus on globalizing its offerings, acquisitions and strategic partnerships and a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk. Further, volatility in financial payments, services and technology industry is a headwind. The stock has underperformed the industry it belongs to in the past year.”
FDC has been the topic of several other reports. Sanford C. Bernstein began coverage on shares of First Data in a research report on Tuesday, March 27th. They issued an outperform rating and a $20.00 price target on the stock. Piper Jaffray reiterated a buy rating and issued a $26.00 price target on shares of First Data in a research report on Thursday, January 18th. Robert W. Baird upgraded shares of First Data from a neutral rating to an outperform rating and set a $22.00 price target on the stock in a research report on Wednesday, February 14th. BTIG Research reiterated a buy rating on shares of First Data in a research report on Tuesday, February 13th. Finally, Morgan Stanley lowered their price target on shares of First Data from $20.00 to $19.00 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. First Data has a consensus rating of Buy and an average price target of $20.40.
First Data (NYSE:FDC) last released its quarterly earnings results on Monday, February 12th. The business services provider reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.11 billion. First Data had a net margin of 12.16% and a return on equity of 24.96%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. equities analysts anticipate that First Data will post 1.2 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the business. Westside Investment Management Inc. purchased a new position in First Data during the fourth quarter worth approximately $103,000. Macquarie Group Ltd. purchased a new position in First Data during the third quarter worth approximately $117,000. Ladenburg Thalmann Financial Services Inc. raised its stake in First Data by 254.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after purchasing an additional 5,173 shares during the period. Pittenger & Anderson Inc. raised its stake in First Data by 72.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock worth $130,000 after purchasing an additional 3,250 shares during the period. Finally, Cerebellum GP LLC purchased a new position in First Data during the fourth quarter worth approximately $131,000. 49.51% of the stock is currently owned by institutional investors.
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First Data Company Profile
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.
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