First Data (FDC) Raised to “Buy” at Bank of America

First Data (NYSE:FDC) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Thursday.

Other analysts have also recently issued reports about the company. Cowen restated a “buy” rating and issued a $20.00 price target on shares of First Data in a research note on Thursday, October 12th. Jefferies Group restated a “buy” rating and issued a $21.00 price target on shares of First Data in a research note on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price target on shares of First Data in a research note on Friday, October 6th. ValuEngine upgraded First Data from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Buckingham Research started coverage on First Data in a research note on Monday, October 2nd. They issued a “buy” rating and a $23.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

First Data (NYSE FDC) opened at $17.60 on Thursday. The stock has a market capitalization of $16,250.00 and a price-to-earnings ratio of 23.16. First Data has a fifty-two week low of $14.67 and a fifty-two week high of $19.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58.

First Data (NYSE:FDC) last released its earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $0.34 earnings per share. First Data’s revenue was up 4.8% compared to the same quarter last year. research analysts anticipate that First Data will post 1.28 EPS for the current year.

In related news, CEO Frank Bisignano purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $16.82 per share, for a total transaction of $420,500.00. Following the transaction, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at approximately $119,546,434.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares in the company, valued at approximately $7,150,202.24. The disclosure for this sale can be found here. Insiders have bought 25,200 shares of company stock worth $423,853 in the last quarter. Insiders own 6.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in First Data by 8.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock valued at $594,763,000 after acquiring an additional 2,614,956 shares during the period. Bank of New York Mellon Corp increased its position in First Data by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 18,255,473 shares of the business services provider’s stock valued at $329,329,000 after acquiring an additional 289,758 shares during the period. BlackRock Inc. increased its position in First Data by 12.2% in the 2nd quarter. BlackRock Inc. now owns 15,870,199 shares of the business services provider’s stock valued at $288,835,000 after acquiring an additional 1,721,402 shares during the period. Canada Pension Plan Investment Board increased its position in First Data by 117.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after acquiring an additional 7,979,289 shares during the period. Finally, Glenview Capital Management LLC increased its position in First Data by 14.0% in the 2nd quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock valued at $222,394,000 after acquiring an additional 1,500,000 shares during the period. Hedge funds and other institutional investors own 49.05% of the company’s stock.

TRADEMARK VIOLATION WARNING: “First Data (FDC) Raised to “Buy” at Bank of America” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/3143827/bank-of-america-upgrades-first-data-fdc-to-buy.html.

First Data Company Profile

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.

Analyst Recommendations for First Data (NYSE:FDC)

Receive News & Ratings for First Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.