BTIG Research Downgrades First Data (FDC) to Neutral

BTIG Research cut shares of First Data (NYSE:FDC) from a buy rating to a neutral rating in a report issued on Thursday, The Fly reports.

A number of other equities research analysts have also recently weighed in on FDC. ValuEngine cut shares of First Data from a buy rating to a hold rating in a research report on Thursday, October 11th. Nomura lifted their price objective on shares of First Data from $21.00 to $26.00 and gave the company a neutral rating in a research note on Wednesday, October 17th. Robert W. Baird lifted their price objective on shares of First Data from $28.00 to $30.00 and gave the company an outperform rating in a research note on Friday, October 19th. Buckingham Research lifted their price objective on shares of First Data from $27.00 to $35.00 and gave the company a buy rating in a research note on Friday, October 26th. Finally, Cantor Fitzgerald restated a hold rating and issued a $20.00 price objective (down from $23.00) on shares of First Data in a research note on Monday, October 29th. Eighteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $24.98.

Shares of FDC opened at $25.51 on Thursday. First Data has a 1-year low of $14.73 and a 1-year high of $26.62. The firm has a market capitalization of $23.90 billion, a P/E ratio of 21.08, a P/E/G ratio of 1.37 and a beta of 2.31. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.02 and a quick ratio of 1.02.

First Data (NYSE:FDC) last announced its quarterly earnings results on Wednesday, February 6th. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. First Data had a net margin of 10.58% and a return on equity of 18.47%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $0.44 earnings per share. First Data’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that First Data will post 1.38 earnings per share for the current fiscal year.

In other news, insider Cynthia A. Armine-Klein sold 99,510 shares of the business’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $19.00, for a total transaction of $1,890,690.00. Following the transaction, the insider now directly owns 662,767 shares in the company, valued at $12,592,573. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of First Data during the fourth quarter worth about $42,000. First Personal Financial Services grew its position in First Data by 57.9% during the fourth quarter. First Personal Financial Services now owns 4,049 shares of the business services provider’s stock worth $68,000 after buying an additional 1,484 shares during the period. Penserra Capital Management LLC acquired a new position in First Data during the fourth quarter worth about $86,000. National Pension Service acquired a new position in First Data during the third quarter worth about $154,000. Finally, TD Capital Management LLC acquired a new position in First Data during the fourth quarter worth about $126,000. Institutional investors and hedge funds own 55.78% of the company’s stock.

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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