Fiserv (NYSE:FI) Issues FY 2024 Earnings Guidance

Fiserv (NYSE:FI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.730-8.800 for the period, compared to the consensus estimate of 8.750. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.73-8.80 EPS.

Analysts Set New Price Targets

A number of analysts have weighed in on FI shares. BMO Capital Markets increased their target price on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $183.00 price objective on shares of Fiserv in a research note on Wednesday, October 2nd. KeyCorp lifted their target price on Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company raised their price target on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.92.

Fiserv Price Performance

NYSE:FI opened at $197.15 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The business’s 50-day moving average price is $177.77 and its 200 day moving average price is $161.51. Fiserv has a 52-week low of $109.11 and a 52-week high of $198.86. The firm has a market cap of $115.35 billion, a P/E ratio of 36.85, a PEG ratio of 1.44 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Fiserv will post 8.74 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,890 shares of company stock worth $32,855,417. Insiders own 0.75% of the company’s stock.

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.