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 $8.73-8.80 for the period, compared to the consensus EPS estimate of $8.75. Fiserv also updated its FY 2024 guidance to 8.730-8.800 EPS.

Fiserv Trading Up 0.6 %

Shares of FI stock traded up $1.19 during mid-day trading on Thursday, hitting $203.55. 148,755 shares of the company’s stock were exchanged, compared to its average volume of 2,473,446. The stock has a market cap of $119.10 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 1.44 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a fifty-two week low of $111.53 and a fifty-two week high of $203.69. The stock has a 50-day simple moving average of $179.29 and a two-hundred day simple moving average of $162.09.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company posted $1.96 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Fiserv will post 8.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FI. Oppenheimer initiated coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. Robert W. Baird lifted their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday. B. Riley lifted their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.08.

Insider Activity

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on Friday, September 20th. The shares were 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 in the company, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 187,890 shares of company stock worth $32,855,417. 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.