Fiserv (NYSE:FI) Updates FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.73-8.80 for the period, compared to the consensus estimate of $8.75. Fiserv also updated its FY 2024 guidance to 8.730-8.800 EPS.

Fiserv Stock Performance

FI stock opened at $197.15 on Tuesday. The firm has a market cap of $115.35 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The stock has a 50-day moving average price of $177.77 and a 200-day moving average price of $161.51. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a 1-year low of $109.11 and a 1-year high of $198.86.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that Fiserv will post 8.74 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $183.00 price target on shares of Fiserv in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. BTIG Research started coverage on shares of Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $187.92.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 Fiserv stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,890 shares of company stock valued at $32,855,417 over the last three months. 0.75% of the stock is owned by company 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.