Q2 2017 EPS Estimates for First Data Corporation Boosted by SunTrust Banks (FDC)

First Data Corporation (NYSE:FDC) – Equities research analysts at SunTrust Banks increased their Q2 2017 earnings per share estimates for shares of First Data Corporation in a research note issued on Tuesday. SunTrust Banks analyst A. Jeffrey now forecasts that the business services provider will post earnings of $0.35 per share for the quarter, up from their previous forecast of $0.34. SunTrust Banks also issued estimates for First Data Corporation’s Q3 2017 earnings at $0.36 EPS, Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.32 EPS and FY2018 earnings at $1.35 EPS.

Several other research firms have also recently weighed in on FDC. Wedbush reissued a “neutral” rating and set a $20.00 price objective (up from $15.00) on shares of First Data Corporation in a report on Tuesday, June 6th. ValuEngine cut shares of First Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BTIG Research reissued a “buy” rating and set a $18.00 price objective on shares of First Data Corporation in a report on Thursday, June 1st. Stifel Nicolaus initiated coverage on shares of First Data Corporation in a research report on Thursday, June 1st. They set a “buy” rating and a $20.00 target price for the company. Finally, BMO Capital Markets boosted their target price on shares of First Data Corporation from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Tuesday, May 9th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $17.96.

Earnings History and Estimates for First Data Corporation (NYSE:FDC)

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First Data Corporation (NYSE:FDC) opened at 18.12 on Thursday. The stock’s 50 day moving average is $17.01 and its 200-day moving average is $15.76. The company has a market capitalization of $16.65 billion, a P/E ratio of 32.71 and a beta of 1.79. First Data Corporation has a 52-week low of $9.90 and a 52-week high of $19.01.

First Data Corporation (NYSE:FDC) last released its earnings results on Monday, May 8th. The business services provider reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. First Data Corporation had a net margin of 4.41% and a return on equity of 26.15%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm earned $0.24 EPS. The company’s revenue was up .9% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in First Data Corporation by 1,276.6% in the first quarter. Tower Research Capital LLC TRC now owns 6,635 shares of the business services provider’s stock worth $103,000 after buying an additional 6,153 shares during the last quarter. Independent Portfolio Consultants Inc. acquired a new stake in First Data Corporation during the first quarter worth about $106,000. Nordea Investment Management AB increased its stake in First Data Corporation by 9.0% in the first quarter. Nordea Investment Management AB now owns 7,632 shares of the business services provider’s stock worth $118,000 after buying an additional 632 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in First Data Corporation by 79.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,700 shares of the business services provider’s stock worth $119,000 after buying an additional 3,400 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in First Data Corporation by 7.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,571 shares of the business services provider’s stock worth $124,000 after buying an additional 616 shares during the last quarter. 36.55% of the stock is currently owned by institutional investors.

In related news, insider Matthew Cagwin sold 8,195 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $16.42, for a total transaction of $134,561.90. Following the sale, the insider now owns 85,007 shares of the company’s stock, valued at $1,395,814.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

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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