First Data Corp (FDC) Expected to Post Earnings of $0.36 Per Share

Brokerages expect First Data Corp (NYSE:FDC) to report earnings per share of $0.36 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for First Data’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.38. First Data reported earnings per share of $0.44 during the same quarter last year, which indicates a negative year-over-year growth rate of 18.2%. The company is expected to issue its next earnings results on Monday, February 11th.

According to Zacks, analysts expect that First Data will report full year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.38 to $1.41. For the next financial year, analysts forecast that the business will post earnings of $1.58 per share, with EPS estimates ranging from $1.54 to $1.65. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow First Data.

First Data (NYSE:FDC) last issued its quarterly earnings data on Monday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). First Data had a net margin of 17.48% and a return on equity of 19.33%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year.

Several brokerages have recently commented on FDC. Cowen lowered First Data from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $28.00 to $22.74 in a research report on Thursday, January 17th. Keefe, Bruyette & Woods downgraded First Data from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $21.00 to $22.00 in a report on Thursday, January 17th. ValuEngine raised First Data from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Tigress Financial downgraded First Data from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Mizuho cut First Data from a “buy” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $22.00 in a research report on Thursday, January 17th. Fourteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.67.

Shares of FDC stock traded up $0.68 during trading hours on Tuesday, reaching $25.11. The company had a trading volume of 21,653,154 shares, compared to its average volume of 23,319,980. First Data has a twelve month low of $14.73 and a twelve month high of $26.62. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $23.53 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.35 and a beta of 1.74.

In other news, insider Barry C. Mccarthy sold 113,515 shares of First Data stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $19.13, for a total transaction of $2,171,541.95. Following the transaction, the insider now owns 368,571 shares in the company, valued at $7,050,763.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Barry C. Mccarthy sold 35,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $18.69, for a total transaction of $654,150.00. Following the completion of the transaction, the insider now owns 368,571 shares in the company, valued at approximately $6,888,591.99. The disclosure for this sale can be found here. Insiders have sold 248,025 shares of company stock worth $4,716,382 over the last ninety days. Insiders own 5.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of First Data by 5.4% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,475 shares of the business services provider’s stock valued at $532,000 after purchasing an additional 1,624 shares during the period. IFM Investors Pty Ltd boosted its stake in First Data by 7.4% in the fourth quarter. IFM Investors Pty Ltd now owns 31,419 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 2,177 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in First Data by 6.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,800 shares of the business services provider’s stock valued at $791,000 after acquiring an additional 2,292 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of First Data during the 4th quarter valued at approximately $42,000. Finally, First Mercantile Trust Co. lifted its stake in shares of First Data by 22.7% during the 3rd quarter. First Mercantile Trust Co. now owns 15,700 shares of the business services provider’s stock valued at $384,000 after buying an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 56.23% of the company’s stock.

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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