Fiserv (NYSE:FI) Issues 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 Analyst Weigh In

Several research firms have recently commented on FI. BNP Paribas upgraded Fiserv from a neutral rating to an outperform rating in a research note on Wednesday, January 10th. Barclays increased their target price on Fiserv from $165.00 to $185.00 and gave the company an overweight rating in a research note on Monday, April 1st. Royal Bank of Canada increased their target price on Fiserv from $158.00 to $180.00 and gave the company an outperform rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Fiserv from $150.00 to $160.00 and gave the stock a hold rating in a research note on Monday, March 25th. Finally, Truist Financial raised their price objective on Fiserv from $140.00 to $145.00 and gave the stock a hold rating in a research note on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $164.33.

Fiserv Stock Performance

Shares of FI traded up $1.04 during trading hours on Thursday, reaching $153.29. 3,049,942 shares of the company’s stock traded hands, compared to its average volume of 2,557,857. The firm has a market capitalization of $90.25 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 1.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. Fiserv has a twelve month low of $109.11 and a twelve month high of $159.99. The business’s fifty day simple moving average is $152.39 and its two-hundred day simple moving average is $137.45.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. Analysts predict that Fiserv will post 8.63 earnings per share for the current year.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,477,911.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 111,575 shares of company stock valued at $17,022,387. Company insiders own 0.75% of the company’s stock.

About Fiserv

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.