Fiserv (NYSE:FI) Releases FY 2024 Earnings Guidance

Fiserv (NYSE:FI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.600-8.750 for the period, compared to the consensus estimate of 8.630. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.60-8.75 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FI. Robert W. Baird increased their target price on shares of Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a research report on Wednesday. KeyCorp increased their target price on shares of Fiserv from $160.00 to $170.00 and gave the company an overweight rating in a research report on Monday. BNP Paribas raised shares of Fiserv from a neutral rating to an outperform rating in a research report on Wednesday, January 10th. Jefferies Financial Group increased their target price on shares of Fiserv from $150.00 to $160.00 and gave the company a hold rating in a research report on Monday, March 25th. Finally, B. Riley increased their price target on Fiserv from $176.00 to $180.00 and gave the stock a buy rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Fiserv has an average rating of Moderate Buy and an average target price of $161.46.

Fiserv Price Performance

Shares of FI traded down $3.00 during trading hours on Wednesday, reaching $152.39. 899,902 shares of the company’s stock traded hands, compared to its average volume of 2,530,884. The stock has a market cap of $89.72 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. 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’s 50 day simple moving average is $152.14 and its 200-day simple moving average is $137.23. 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 results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities analysts expect that Fiserv will post 8.63 EPS for the current year.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $25,209,646. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 over the last ninety days. Company insiders own 0.75% of the company’s stock.

About Fiserv

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.