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

Analysts expect that First Data Corp (NYSE:FDC) will post earnings per share of $0.36 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for First Data’s earnings, with estimates ranging from $0.34 to $0.38. First Data posted earnings of $0.40 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is expected to announce its next earnings report before the market opens on Monday, October 29th.

According to Zacks, analysts expect that First Data will report full year earnings of $1.45 per share for the current fiscal year, with EPS estimates ranging from $1.38 to $1.50. For the next fiscal year, analysts anticipate that the company will post earnings of $1.63 per share, with EPS estimates ranging from $1.56 to $1.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover First Data.

First Data (NYSE:FDC) last posted its quarterly earnings results on Monday, July 30th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. First Data had a return on equity of 21.88% and a net margin of 15.39%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis.



Several research firms have weighed in on FDC. Buckingham Research increased their price objective on First Data from $27.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird increased their price objective on First Data from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, October 19th. Nomura increased their price objective on First Data from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 17th. ValuEngine cut First Data from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $37.00 price objective on shares of First Data in a research report on Thursday, September 27th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.56.

FDC stock traded down $0.54 during trading hours on Friday, hitting $21.60. 27,832,544 shares of the stock were exchanged, compared to its average volume of 7,317,475. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.67 and a beta of 1.56. First Data has a 12 month low of $14.73 and a 12 month high of $26.62.

In other news, insider Barry C. Mccarthy sold 151,203 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $25.78, for a total transaction of $3,898,013.34. Following the sale, the insider now directly owns 484,774 shares of the company’s stock, valued at approximately $12,497,473.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Guy Chiarello sold 150,000 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $25.06, for a total value of $3,759,000.00. Following the sale, the president now directly owns 1,408,272 shares in the company, valued at $35,291,296.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 416,432 shares of company stock worth $10,415,596. 5.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its stake in First Data by 9.3% in the second quarter. Canada Pension Plan Investment Board now owns 16,508,357 shares of the business services provider’s stock valued at $345,520,000 after buying an additional 1,400,000 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in First Data by 95.9% in the second quarter. OppenheimerFunds Inc. now owns 11,790,919 shares of the business services provider’s stock valued at $246,783,000 after buying an additional 5,772,608 shares in the last quarter. Senator Investment Group LP boosted its stake in First Data by 36.7% in the second quarter. Senator Investment Group LP now owns 10,250,000 shares of the business services provider’s stock valued at $214,532,000 after buying an additional 2,750,000 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in First Data by 0.6% in the second quarter. Standard Life Aberdeen plc now owns 6,262,911 shares of the business services provider’s stock valued at $131,177,000 after buying an additional 36,430 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in First Data by 129.8% in the second quarter. Millennium Management LLC now owns 6,182,051 shares of the business services provider’s stock valued at $129,390,000 after buying an additional 3,492,441 shares in the last quarter. 51.41% of the stock is currently owned by institutional investors and hedge funds.

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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