Zacks: Analysts Anticipate First Data Corporation (FDC) Will Post Quarterly Sales of $1.90 Billion

Equities research analysts expect First Data Corporation (NYSE:FDC) to announce sales of $1.90 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for First Data Corporation’s earnings. The highest sales estimate is $1.94 billion and the lowest is $1.87 billion. First Data Corporation posted sales of $1.82 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The firm is scheduled to announce its next earnings results on Monday, November 6th.

According to Zacks, analysts expect that First Data Corporation will report full year sales of $1.90 billion for the current fiscal year, with estimates ranging from $7.35 billion to $7.53 billion. For the next financial year, analysts forecast that the firm will post sales of $7.83 billion per share, with estimates ranging from $7.67 billion to $7.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for First Data Corporation.

First Data Corporation (NYSE:FDC) last released its earnings results on Monday, August 7th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share.

Several research firms have recently commented on FDC. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. Morgan Stanley lifted their price target on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. BidaskClub lowered shares of First Data Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price target (up previously from $20.00) on shares of First Data Corporation in a research report on Tuesday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target (up previously from $15.00) on shares of First Data Corporation in a research report on Tuesday, June 6th. Ten analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.91.

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In other First Data Corporation news, insider Christopher M. Foskett sold 10,254 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the transaction, the insider now owns 430,294 shares in the company, valued at $7,917,409.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff Shanahan purchased 118,135 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $17.81 per share, with a total value of $2,103,984.35. Following the purchase, the insider now owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 340,217 shares of company stock valued at $6,139,786. Insiders own 6.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in shares of First Data Corporation by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 313,570 shares of the business services provider’s stock worth $4,860,000 after acquiring an additional 1,500 shares in the last quarter. American Century Companies Inc. grew its stake in shares of First Data Corporation by 4,509.6% in the second quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock worth $82,732,000 after acquiring an additional 4,447,098 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of First Data Corporation by 4.7% in the second quarter. Prudential Financial Inc. now owns 1,270,900 shares of the business services provider’s stock worth $23,131,000 after acquiring an additional 57,600 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of First Data Corporation by 51.3% in the second quarter. Russell Investments Group Ltd. now owns 159,661 shares of the business services provider’s stock worth $2,905,000 after acquiring an additional 54,118 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of First Data Corporation by 187.9% in the first quarter. Nuveen Asset Management LLC now owns 1,136,196 shares of the business services provider’s stock worth $17,611,000 after acquiring an additional 741,547 shares in the last quarter. Institutional investors and hedge funds own 39.13% of the company’s stock.

First Data Corporation (NYSE:FDC) traded up 1.06% on Friday, hitting $18.15. The stock had a trading volume of 17,362,112 shares. The stock has a market cap of $16.75 billion, a PE ratio of 30.35 and a beta of 1.77. The firm’s 50 day moving average price is $18.15 and its 200-day moving average price is $17.17. First Data Corporation has a 12 month low of $12.74 and a 12 month high of $19.20.

About First Data Corporation

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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