First Data (FDC) Rating Lowered to Market Perform at Raymond James

First Data (NYSE:FDC) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, February 5th, Marketbeat.com reports. They presently have a $25.03 price objective on the business services provider’s stock. Raymond James’ price objective suggests a potential downside of 2.91% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Stephens cut their price target on shares of First Data from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, November 5th. Zacks Investment Research raised shares of First Data from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, January 29th. Buckingham Research upped their price objective on shares of First Data from $27.00 to $35.00 and gave the company a “buy” rating in a report on Friday, October 26th. Robert W. Baird reaffirmed a “buy” rating and set a $22.00 price objective on shares of First Data in a report on Monday, December 17th. Finally, SunTrust Banks reissued a “buy” rating on shares of First Data in a report on Monday, January 7th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. First Data currently has an average rating of “Hold” and an average price target of $24.98.

NYSE:FDC traded up $0.64 during mid-day trading on Tuesday, hitting $25.78. 5,537,752 shares of the company’s stock were exchanged, compared to its average volume of 11,734,592. 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 has a fifty-two week low of $14.73 and a fifty-two week high of $26.62. The company has a market cap of $23.68 billion, a PE ratio of 21.31, a P/E/G ratio of 1.34 and a beta of 2.31.

First Data (NYSE:FDC) last issued its quarterly earnings results on Wednesday, February 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. First Data had a net margin of 10.58% and a return on equity of 18.47%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS. Equities research analysts expect that First Data will post 1.39 EPS for the current year.

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of First Data by 669.5% during the 3rd quarter. AQR Capital Management LLC now owns 106,849 shares of the business services provider’s stock valued at $2,615,000 after purchasing an additional 92,963 shares during the period. IFP Advisors Inc lifted its position in shares of First Data by 23.8% during the 4th quarter. IFP Advisors Inc now owns 51,781 shares of the business services provider’s stock valued at $877,000 after buying an additional 9,938 shares in the last quarter. GAM Holding AG lifted its position in shares of First Data by 57.8% during the 3rd quarter. GAM Holding AG now owns 48,155 shares of the business services provider’s stock valued at $1,178,000 after buying an additional 17,644 shares in the last quarter. Boston Advisors LLC lifted its position in shares of First Data by 28.5% during the 4th quarter. Boston Advisors LLC now owns 57,795 shares of the business services provider’s stock valued at $977,000 after buying an additional 12,831 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of First Data during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 56.58% 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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Analyst Recommendations for First Data (NYSE:FDC)

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