First Data Corporation (NYSE:FDC)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a report issued on Thursday. They currently have a $23.00 price objective on the business services provider’s stock, up from their prior price objective of $22.00. Piper Jaffray Companies’ target price would indicate a potential upside of 31.65% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Morgan Stanley lifted their price target on First Data Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Atlantic Securities reiterated a “neutral” rating and issued a $17.00 price target on shares of First Data Corporation in a research note on Wednesday, April 12th. FIX began coverage on First Data Corporation in a research note on Thursday, May 18th. They issued an “outperform” rating and a $18.00 price target for the company. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $19.00 price target (up from $18.00) on shares of First Data Corporation in a research note on Wednesday, May 10th. 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. Eight equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.70.
Shares of First Data Corporation (NYSE FDC) opened at 17.47 on Thursday. First Data Corporation has a 12 month low of $12.74 and a 12 month high of $19.20. The firm has a market capitalization of $16.12 billion, a PE ratio of 29.21 and a beta of 1.77. The company has a 50 day moving average price of $18.41 and a 200-day moving average price of $16.75.
First Data Corporation (NYSE:FDC) last announced its 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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Equities research analysts expect that First Data Corporation will post $1.53 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Korea Investment CORP bought a new position in First Data Corporation during the first quarter valued at about $1,531,000. Dudley & Shanley LLC bought a new position in First Data Corporation during the first quarter valued at about $20,351,000. Mn Services Vermogensbeheer B.V. boosted its position in First Data Corporation by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock valued at $124,000 after buying an additional 616 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in First Data Corporation during the first quarter valued at about $3,315,000. Finally, Quantitative Systematic Strategies LLC bought a new position in First Data Corporation during the first quarter valued at about $1,276,000. 36.55% of the stock is currently owned by 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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