First Data Corp (FDC) Receives Average Recommendation of “Buy” from Brokerages

First Data Corp (NYSE:FDC) has been assigned a consensus recommendation of “Buy” from the thirty ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $20.08.

Several equities analysts recently commented on the stock. KeyCorp restated a “buy” rating and issued a $20.00 price target on shares of First Data in a research note on Friday, October 27th. Cowen restated a “buy” rating and issued a $20.00 price target on shares of First Data in a research note on Thursday, October 12th. BMO Capital Markets upgraded shares of First Data from a “market perform” rating to an “outperform” rating and upped their price target for the company from $19.00 to $21.50 in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of First Data from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Robert W. Baird upped their price target on shares of First Data from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th.

First Data (FDC) traded down $0.52 during trading hours on Friday, hitting $16.06. 5,919,552 shares of the company’s stock traded hands, compared to its average volume of 6,224,176. First Data has a 12-month low of $14.67 and a 12-month high of $19.23. The firm has a market capitalization of $15,218.72, a P/E ratio of 21.21, a P/E/G ratio of 0.96 and a beta of 1.46. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02.

First Data (NYSE:FDC) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. First Data had a net margin of 5.99% and a return on equity of 26.60%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. equities research analysts expect that First Data will post 1.28 earnings per share for the current year.

In related news, insider Andrew Gelb sold 7,473 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the sale, the insider now owns 417,652 shares of the company’s stock, valued at $7,150,202.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 300 shares of company stock valued at $5,124 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in First Data by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 18,255,473 shares of the business services provider’s stock worth $329,329,000 after purchasing an additional 289,758 shares during the period. Canada Pension Plan Investment Board lifted its position in First Data by 117.1% during the third quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock worth $266,844,000 after purchasing an additional 7,979,289 shares during the period. Glenview Capital Management LLC lifted its position in First Data by 14.0% during the second quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock worth $222,394,000 after purchasing an additional 1,500,000 shares during the period. Jana Partners LLC lifted its position in First Data by 35.2% during the third quarter. Jana Partners LLC now owns 10,065,428 shares of the business services provider’s stock worth $181,580,000 after purchasing an additional 2,623,313 shares during the period. Finally, Iridian Asset Management LLC CT lifted its holdings in shares of First Data by 31.8% in the fourth quarter. Iridian Asset Management LLC CT now owns 8,905,329 shares of the business services provider’s stock worth $148,808,000 after acquiring an additional 2,147,260 shares during the last quarter. 49.22% of the stock is owned by institutional investors and hedge funds.

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About First Data

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.

Analyst Recommendations for First Data (NYSE:FDC)

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