Fiserv (NYSE:FI) Updates FY24 Earnings Guidance

Fiserv (NYSE:FI) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Susquehanna lifted their price objective on shares of Fiserv from $175.00 to $180.00 and gave the stock a positive rating in a report on Monday, March 25th. BMO Capital Markets increased their price objective on shares of Fiserv from $152.00 to $157.00 and gave the company an outperform rating in a research note on Thursday, February 8th. Stephens upped their target price on Fiserv from $140.00 to $150.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Truist Financial boosted their price objective on Fiserv from $140.00 to $145.00 and gave the stock a hold rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their price objective on Fiserv from $144.00 to $158.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $157.79.

Fiserv Price Performance

Shares of Fiserv stock opened at $154.61 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $91.03 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The business’s 50-day moving average price is $151.90 and its 200-day moving average price is $136.94. Fiserv has a 12 month low of $109.11 and a 12 month high of $159.99.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.79 by $0.09. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. Sell-side analysts forecast that Fiserv will post 8.63 EPS for the current fiscal year.

Insider Activity

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