Fiserv (NYSE:FI) Releases FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.60-8.75 for the period, compared to the consensus estimate of $8.63. Fiserv also updated its FY 2024 guidance to 8.600-8.750 EPS.

Analysts Set New Price Targets

FI has been the topic of a number of recent research reports. Oppenheimer raised Fiserv from a market perform rating to an outperform rating and set a $168.00 price objective on the stock in a research report on Thursday, January 11th. B. Riley increased their target price on Fiserv from $176.00 to $180.00 and gave the company a buy rating in a report on Wednesday. Jefferies Financial Group raised their price objective on Fiserv from $150.00 to $160.00 and gave the stock a hold rating in a report on Monday, March 25th. BMO Capital Markets raised their price objective on Fiserv from $163.00 to $168.00 and gave the stock an outperform rating in a report on Wednesday. Finally, StockNews.com initiated coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a buy rating for the company. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $158.46.

Fiserv Stock Performance

Shares of NYSE:FI traded down $3.18 during trading on Wednesday, reaching $152.21. 799,830 shares of the company’s stock traded hands, compared to its average volume of 2,529,569. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04. Fiserv has a 12 month low of $109.11 and a 12 month high of $159.99. The company has a 50 day moving average of $152.14 and a 200-day moving average of $137.23. The stock has a market capitalization of $89.62 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The business’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 business posted $1.58 EPS. On average, equities analysts expect that Fiserv will post 8.63 EPS for the current year.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,847,871.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 over the last ninety days. 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.