Fiserv (NYSE:FI) Releases FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $8.65 to $8.80 for the period, compared to the consensus EPS estimate of $8.71. The company issued revenue guidance of +6 to +8% yr/yr or $20.239 billion to $20.620 billion, compared to the consensus revenue estimate of $19.24 billion. Fiserv also updated its FY 2024 guidance to 8.650-8.800 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FI. Morgan Stanley upgraded 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. Robert W. Baird raised their price target on Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on Fiserv from $158.00 to $180.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Stephens reaffirmed an equal weight rating and issued a $165.00 target price on shares of Fiserv in a research note on Wednesday, April 24th. Finally, BMO Capital Markets lifted their price target on shares of Fiserv from $163.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has an average rating of Moderate Buy and a consensus target price of $166.76.

Fiserv Stock Up 2.5 %

FI traded up $3.92 during trading on Wednesday, hitting $161.14. The company had a trading volume of 3,684,351 shares, compared to its average volume of 2,491,510. The company has a market capitalization of $94.28 billion, a PE ratio of 29.97, a PEG ratio of 1.28 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv has a one year low of $109.11 and a one year high of $161.73. The firm’s 50-day moving average price is $150.96 and its 200 day moving average price is $149.54.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. Fiserv’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. As a group, equities analysts expect that Fiserv will post 8.69 earnings per share for the current year.

Insider Transactions at Fiserv

In other news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the 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 directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The disclosure for this sale can be found here. Insiders sold 50,800 shares of company stock valued at $7,696,448 in the last ninety days. 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.