Fiserv (NYSE:FI) Releases FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $8.60-8.75 for the period, compared to the consensus EPS estimate of $8.63. Fiserv also updated its FY 2024 guidance to 8.600-8.750 EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Fiserv from $140.00 to $145.00 and gave the stock a hold rating in a research report on Wednesday, February 7th. Stephens raised their price objective on shares of Fiserv from $140.00 to $150.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. KeyCorp raised their price objective on shares of Fiserv from $160.00 to $170.00 and gave the stock an overweight rating in a research note on Monday. BNP Paribas upgraded shares of Fiserv from a neutral rating to an outperform rating in a report on Wednesday, January 10th. Finally, B. Riley lifted their target price on shares of Fiserv from $176.00 to $180.00 and gave the company a buy rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Fiserv presently has an average rating of Moderate Buy and an average price target of $158.46.

Fiserv Price Performance

Shares of NYSE FI traded down $3.18 during trading hours on Wednesday, hitting $152.21. 799,830 shares of the stock were exchanged, compared to its average volume of 2,529,569. The company has a market cap of $89.62 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day simple moving average is $152.14 and its two-hundred day simple moving average is $137.23. Fiserv has a 1-year low of $109.11 and a 1-year high of $159.99.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. On average, sell-side analysts predict that Fiserv will post 8.63 EPS for the current year.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 63,646 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.