Brokerages Anticipate First Data Corp (NYSE:FDC) Will Post Quarterly Sales of $2.27 Billion

Wall Street analysts expect First Data Corp (NYSE:FDC) to announce sales of $2.27 billion for the current quarter, according to Zacks. Six analysts have made estimates for First Data’s earnings. The highest sales estimate is $2.31 billion and the lowest is $2.25 billion. First Data reported sales of $2.23 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The business is expected to announce its next quarterly earnings report on Monday, July 29th.

On average, analysts expect that First Data will report full-year sales of $8.94 billion for the current fiscal year, with estimates ranging from $8.89 billion to $9.05 billion. For the next fiscal year, analysts forecast that the company will report sales of $9.46 billion, with estimates ranging from $9.40 billion to $9.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for First Data.

First Data (NYSE:FDC) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. First Data had a return on equity of 18.04% and a net margin of 11.26%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis.

A number of research firms have recently weighed in on FDC. Zacks Investment Research raised First Data from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, June 19th. BMO Capital Markets upped their price objective on First Data from $25.64 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Nineteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.12.

In related news, insider Michael K. Neborak sold 6,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $25.76, for a total value of $154,560.00. Following the transaction, the insider now owns 351,087 shares of the company’s stock, valued at $9,044,001.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael K. Neborak sold 111,707 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $26.66, for a total value of $2,978,108.62. Following the completion of the transaction, the insider now directly owns 434,723 shares in the company, valued at approximately $11,589,715.18. The disclosure for this sale can be found here. Corporate insiders own 4.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDC. Alpine Associates Management Inc. acquired a new position in First Data in the first quarter valued at $194,137,000. Norges Bank acquired a new stake in shares of First Data during the fourth quarter worth about $114,431,000. CNH Partners LLC acquired a new stake in shares of First Data during the first quarter worth about $156,189,000. Shapiro Capital Management LLC boosted its stake in shares of First Data by 160.1% during the fourth quarter. Shapiro Capital Management LLC now owns 7,203,057 shares of the business services provider’s stock worth $121,804,000 after buying an additional 4,433,214 shares during the period. Finally, FMR LLC boosted its stake in shares of First Data by 20.2% during the fourth quarter. FMR LLC now owns 22,997,206 shares of the business services provider’s stock worth $388,883,000 after buying an additional 3,869,263 shares during the period. Institutional investors own 53.21% of the company’s stock.

Shares of First Data stock traded down $0.13 during trading hours on Wednesday, reaching $27.75. 386,292 shares of the company were exchanged, compared to its average volume of 10,810,597. First Data has a 1 year low of $15.52 and a 1 year high of $28.19. The firm has a fifty day moving average of $26.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $26.46 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.69 and a beta of 1.93.

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

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