Zacks: Brokerages Expect First Data Corp (FDC) to Post $0.37 EPS

Analysts expect that First Data Corp (NYSE:FDC) will announce $0.37 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have provided estimates for First Data’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.36. First Data posted earnings per share of $0.40 in the same quarter last year, which would indicate a negative year over year growth rate of 7.5%. The company is scheduled to issue its next quarterly 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 year, with EPS estimates ranging from $1.43 to $1.50. For the next financial year, analysts expect that the business will post earnings of $1.64 per share, with EPS estimates ranging from $1.58 to $1.70. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow First Data.

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

A number of analysts have commented on FDC shares. Goldman Sachs Group raised shares of 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. Stephens reaffirmed an “overweight” rating and set a $25.00 price target on shares of First Data in a research report on Wednesday, June 13th. Morgan Stanley upped their price target on shares of First Data from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 13th. Credit Suisse Group upped their price target on shares of First Data from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, June 13th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $17.00 price target on shares of First Data in a research report on Wednesday, June 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $25.69.

In related news, President Guy Chiarello sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $25.06, for a total value of $3,759,000.00. Following the sale, the president now owns 1,408,272 shares in the company, valued at approximately $35,291,296.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $2,758,582.26. Following the completion of the sale, the insider now owns 256,100 shares in the company, valued at approximately $6,131,034. The disclosure for this sale can be found here. Insiders purchased a total of 300 shares of company stock worth $6,780 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Green Square Capital LLC purchased a new stake in First Data in the 2nd quarter valued at about $867,000. Andra AP fonden purchased a new stake in shares of First Data during the 2nd quarter worth approximately $5,747,000. Global X Management Co LLC increased its stake in shares of First Data by 128.4% during the 2nd quarter. Global X Management Co LLC now owns 648,848 shares of the business services provider’s stock worth $13,580,000 after purchasing an additional 364,719 shares during the last quarter. Senator Investment Group LP increased 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 purchasing an additional 2,750,000 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of First Data during the 2nd quarter worth approximately $696,000. Institutional investors own 51.28% of the company’s stock.

FDC traded up $0.50 during trading on Friday, reaching $26.24. 8,466,349 shares of the stock traded hands, compared to its average volume of 8,326,253. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $23.71 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.54. First Data has a 12 month low of $14.73 and a 12 month high of $26.25.

First Data Company Profile

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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