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 guidance of 8.730-8.800 for the period, compared to the consensus earnings per share estimate of 8.750. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.73-8.80 EPS.

Fiserv Price Performance

Shares of NYSE:FI opened at $199.67 on Wednesday. Fiserv has a 12 month low of $109.11 and a 12 month high of $199.87. The firm has a market capitalization of $116.83 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The business’s 50 day simple moving average is $178.52 and its 200-day simple moving average is $161.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

Fiserv (NYSE:FI) last issued 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 firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that Fiserv will post 8.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on FI shares. JPMorgan Chase & Co. lifted their target price on shares of Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Citigroup raised their price target on Fiserv from $187.00 to $226.00 in a research note on Tuesday. Barclays upped their price objective on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, BTIG Research assumed coverage on shares of Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target on the stock. Three 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.04.

Insider Buying and Selling

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 approximately $4,764,211.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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.