First Data Corporation (FDC) PT Raised to $20.00 at Credit Suisse Group

First Data Corporation (NYSE:FDC) had its price objective increased by investment analysts at Credit Suisse Group from $19.00 to $20.00 in a report released on Thursday, July 13th. The brokerage presently has an “outperform” rating on the business services provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 14.48% from the stock’s previous close.

FDC has been the subject of several other reports. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price (up from $15.00) on shares of First Data Corporation in a research report on Tuesday, June 6th. Stifel Nicolaus initiated coverage on shares of First Data Corporation in a research report on Thursday, June 1st. They issued a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $19.00 target price on shares of First Data Corporation in a research report on Tuesday, April 4th. Atlantic Securities reaffirmed a “neutral” rating and issued a $17.00 target price on shares of First Data Corporation in a research report on Wednesday, April 12th. Finally, Instinet lifted their price target on shares of First Data Corporation from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.70.

First Data Corporation (FDC) traded down 0.29% during midday trading on Thursday, reaching $17.47. 4,888,497 shares of the company’s stock traded hands. 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 $18.44 and its 200-day moving average price is $16.74. The stock has a market cap of $16.12 billion, a P/E ratio of 29.21 and a beta of 1.77.

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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a net margin of 4.66% and a return on equity of 26.25%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 EPS. On average, equities analysts predict that First Data Corporation will post $1.53 EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Comerica Bank acquired a new stake in First Data Corporation during the fourth quarter valued at $194,000. Creative Planning boosted its stake in shares of First Data Corporation by 56.2% in the first quarter. Creative Planning now owns 23,200 shares of the business services provider’s stock worth $360,000 after buying an additional 8,350 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in First Data Corporation by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock worth $4,860,000 after buying an additional 1,500 shares during the last quarter. DnB Asset Management AS bought a new position in First Data Corporation during the first quarter worth about $312,000. Finally, Candriam Luxembourg S.C.A. bought a new position in First Data Corporation during the first quarter worth about $3,315,000. Hedge funds and other institutional investors own 36.55% of the company’s stock.

About First Data Corporation

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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