First Data Corp (FDC) Expected to Announce Earnings of $0.37 Per Share

Analysts forecast that First Data Corp (NYSE:FDC) will report earnings per share of $0.37 for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for First Data’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.39. First Data posted earnings of $0.40 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.5%. The firm is scheduled to report its next earnings report on Monday, October 29th.

According to Zacks, analysts expect that First Data will report full year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.43 to $1.50. For the next financial year, analysts expect that the business will report earnings of $1.64 per share, with EPS estimates ranging from $1.58 to $1.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover First Data.

First Data (NYSE:FDC) last announced its earnings results on Monday, July 30th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. First Data had a return on equity of 21.88% and a net margin of 15.39%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the business posted $0.40 earnings per share. First Data’s revenue was up 11.1% compared to the same quarter last year.

Several research analysts recently weighed in on the company. Cowen reissued a “buy” rating and set a $28.00 price target on shares of First Data in a research report on Tuesday, July 31st. SunTrust Banks reissued a “buy” rating and set a $29.00 price target on shares of First Data in a research report on Tuesday, July 31st. Goldman Sachs Group raised First Data from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $25.00 in a research report on Monday, June 11th. KeyCorp upped their price target on First Data from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Finally, Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 4th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.69.

Shares of NYSE FDC traded up $0.50 during mid-day trading on Friday, hitting $26.24. 8,466,349 shares of the company traded hands, compared to its average volume of 8,326,253. First Data has a 1 year low of $14.73 and a 1 year high of $26.25. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.90 and a beta of 1.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77.

In other First Data news, President Guy Chiarello sold 150,000 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 1,408,272 shares of the company’s stock, valued at approximately $35,291,296.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.94, for a total value of $2,758,582.26. Following the completion of the transaction, the insider now directly owns 256,100 shares in the company, valued at $6,131,034. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 300 shares of company stock worth $6,780. Insiders own 5.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of FDC. OppenheimerFunds Inc. boosted its stake in shares of First Data by 95.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 11,790,919 shares of the business services provider’s stock worth $246,783,000 after acquiring an additional 5,772,608 shares in the last quarter. BlackRock Inc. boosted its stake in shares of First Data by 23.8% during the 1st quarter. BlackRock Inc. now owns 27,998,267 shares of the business services provider’s stock worth $447,973,000 after acquiring an additional 5,380,509 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of First Data by 148.0% during the 1st quarter. Wells Fargo & Company MN now owns 7,999,087 shares of the business services provider’s stock worth $127,986,000 after acquiring an additional 4,773,138 shares in the last quarter. Millennium Management LLC boosted its stake in shares of First Data by 129.8% during the 2nd quarter. Millennium Management LLC now owns 6,182,051 shares of the business services provider’s stock worth $129,390,000 after acquiring an additional 3,492,441 shares in the last quarter. Finally, Senator Investment Group LP boosted its stake in shares of First Data by 36.7% during the 2nd quarter. Senator Investment Group LP now owns 10,250,000 shares of the business services provider’s stock worth $214,532,000 after acquiring an additional 2,750,000 shares in the last quarter. 51.28% of the stock is currently owned by institutional investors.

About First Data

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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