Equities research analysts expect First Data Corp (NYSE:FDC) to report $2.27 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for First Data’s earnings. The lowest sales estimate is $2.25 billion and the highest is $2.31 billion. First Data posted sales of $2.23 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The business is expected to announce its next earnings results on Monday, July 29th.
According to Zacks, analysts expect that First Data will report full year sales of $8.94 billion for the current year, with estimates ranging from $8.89 billion to $9.05 billion. For the next fiscal year, analysts expect that the firm will post sales of $9.46 billion, with estimates ranging from $9.40 billion to $9.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for First Data.
First Data (NYSE:FDC) last issued its earnings results on Tuesday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. First Data had a net margin of 11.26% and a return on equity of 18.04%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS.
FDC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of First Data from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, June 19th. BMO Capital Markets lifted their price objective on shares of First Data from $25.64 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Nineteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.12.
In other First Data news, insider Michael K. Neborak sold 111,707 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $26.66, for a total transaction of $2,978,108.62. Following the sale, the insider now directly owns 434,723 shares in the company, valued at approximately $11,589,715.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael K. Neborak sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $25.76, for a total transaction of $154,560.00. Following the sale, the insider now owns 351,087 shares in the company, valued at $9,044,001.12. The disclosure for this sale can be found here. Company insiders own 4.87% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Investors Research Corp acquired a new stake in shares of First Data in the first quarter valued at approximately $39,000. Signaturefd LLC raised its holdings in shares of First Data by 116.6% in the first quarter. Signaturefd LLC now owns 3,716 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Bremer Bank National Association acquired a new stake in shares of First Data in the first quarter valued at approximately $98,000. Macquarie Group Ltd. acquired a new stake in shares of First Data in the fourth quarter valued at approximately $114,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of First Data in the first quarter valued at approximately $129,000. Hedge funds and other institutional investors own 53.21% of the company’s stock.
First Data stock traded down $0.13 during midday trading on Wednesday, hitting $27.75. 386,292 shares of the stock were exchanged, compared to its average volume of 10,810,597. The firm has a fifty day moving average price of $26.68. First Data has a 52 week low of $15.52 and a 52 week high of $28.19. The stock has a market capitalization of $26.46 billion, a PE ratio of 23.02, a PEG ratio of 1.69 and a beta of 1.93. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.01 and a quick ratio of 1.01.
About First Data
First Data Corporation provides commerce enabled technology and solutions for merchants, financial institutions, and card issuers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions.
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