$1.93 Billion in Sales Expected for First Data Corp (FDC) This Quarter

Wall Street brokerages expect First Data Corp (NYSE:FDC) to announce $1.93 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for First Data’s earnings, with estimates ranging from $1.90 billion to $1.97 billion. First Data posted sales of $1.83 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, February 12th.

According to Zacks, analysts expect that First Data will report full-year sales of $1.93 billion for the current financial year, with estimates ranging from $7.37 billion to $7.44 billion. For the next year, analysts expect that the company will report sales of $7.85 billion per share, with estimates ranging from $7.77 billion to $7.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for First Data.

First Data (NYSE:FDC) last issued its earnings results on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. First Data had a net margin of 5.99% and a return on equity of 26.60%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year.

FDC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of First Data from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Bank of America upgraded shares of First Data from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. SunTrust Banks restated a “buy” rating on shares of First Data in a research report on Friday, October 20th. Barclays restated a “buy” rating and set a $24.00 price objective on shares of First Data in a research report on Tuesday, December 5th. Finally, Wedbush upgraded shares of First Data from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $25.00 to $20.00 in a research report on Friday, October 20th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.11.

In other news, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares of the company’s stock, valued at $7,150,202.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have acquired 300 shares of company stock valued at $5,124. Company insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FDC. Advisor Group Inc. boosted its stake in shares of First Data by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 2,964 shares during the period. Macquarie Group Ltd. purchased a new position in shares of First Data in the third quarter valued at approximately $117,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of First Data by 254.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 5,173 shares during the period. Cerebellum GP LLC purchased a new position in shares of First Data in the fourth quarter valued at approximately $131,000. Finally, First Manhattan Co. boosted its stake in shares of First Data by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 5,000 shares during the period. 49.22% of the stock is owned by institutional investors and hedge funds.

First Data (FDC) traded down $0.10 during trading on Tuesday, reaching $15.83. 15,861,439 shares of the company traded hands, compared to its average volume of 6,894,004. First Data has a 52-week low of $14.67 and a 52-week high of $19.23. The firm has a market capitalization of $14,140.00 and a PE ratio of 20.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58.

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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.

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