First Data Corp (NYSE:FDC) – Equities researchers at Piper Jaffray Companies lowered their Q4 2018 earnings estimates for shares of First Data in a report issued on Monday, October 29th. Piper Jaffray Companies analyst J. Deleeuw now anticipates that the business services provider will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.35. Piper Jaffray Companies has a “Buy” rating and a $37.00 price target on the stock. Piper Jaffray Companies also issued estimates for First Data’s Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.30 EPS and FY2020 earnings at $1.49 EPS.
A number of other analysts have also weighed in on the company. Goldman Sachs Group increased their price objective on First Data to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 4th. ValuEngine raised First Data from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Buckingham Research increased their price objective on First Data from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, SunTrust Banks reissued a “buy” rating and set a $29.00 price objective on shares of First Data in a research note on Tuesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.12.
First Data (NYSE:FDC) last issued its quarterly earnings results on Monday, October 29th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). First Data had a net margin of 17.48% and a return on equity of 19.84%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of FDC. Acadian Asset Management LLC bought a new position in First Data in the second quarter worth $171,000. Squar Milner Financial Services LLC increased its holdings in shares of First Data by 820.3% during the third quarter. Squar Milner Financial Services LLC now owns 7,519 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 6,702 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of First Data during the second quarter valued at $188,000. Harvest Fund Management Co. Ltd bought a new position in shares of First Data during the third quarter valued at $190,000. Finally, Nicolet Bankshares Inc. bought a new position in shares of First Data during the second quarter valued at $206,000. Institutional investors and hedge funds own 51.45% of the company’s stock.
In other First Data news, insider Barry C. Mccarthy sold 151,203 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $25.78, for a total value of $3,898,013.34. Following the completion of the transaction, the insider now owns 484,774 shares in the company, valued at $12,497,473.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Guy Chiarello sold 150,000 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total value of $3,759,000.00. Following the completion of the transaction, the president now owns 1,408,272 shares of the company’s stock, valued at approximately $35,291,296.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 416,432 shares of company stock valued at $10,415,596. 5.60% of the stock is owned by corporate insiders.
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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