Fiserv (NYSE:FI) Releases FY 2024 Earnings Guidance

Fiserv (NYSE:FI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 8.650-8.800 for the period, compared to the consensus EPS estimate of 8.710. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.65 to $8.80 EPS.

Fiserv Price Performance

Shares of FI stock traded up $3.93 during mid-day trading on Friday, hitting $159.94. The company had a trading volume of 1,500,332 shares, compared to its average volume of 2,515,020. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day moving average price is $151.15 and its 200-day moving average price is $149.67. Fiserv has a 52-week low of $109.11 and a 52-week high of $162.47. The company has a market capitalization of $93.58 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.30 and a beta of 0.92.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that Fiserv will post 8.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FI. KeyCorp upped their target price on shares of Fiserv from $170.00 to $180.00 and gave the stock an overweight rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Fiserv from $180.00 to $183.00 and gave the company an outperform rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of Fiserv from $180.00 to $190.00 and gave the company an overweight rating in a research report on Thursday. Morgan Stanley upgraded shares of Fiserv from an equal weight rating to an overweight rating and increased their price objective for the company from $154.00 to $175.00 in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fiserv from $169.00 to $176.00 and gave the company an overweight rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $170.19.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,800 shares of company stock valued at $7,696,448. 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.