Fiserv (NYSE:FI) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Fiserv (NYSE:FI) posted its earnings results on Tuesday. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11, Briefing.com reports. The business had revenue of $4.88 billion for 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS. Fiserv updated its FY24 guidance to $8.60-8.75 EPS and its FY 2024 guidance to 8.600-8.750 EPS.

Fiserv Stock Up 4.4 %

FI stock opened at $155.38 on Wednesday. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99. The company’s 50 day simple moving average is $152.14 and its 200-day simple moving average is $137.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $91.48 billion, a P/E ratio of 31.08, a P/E/G ratio of 1.22 and a beta of 0.91.

Insider Activity

In other news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $25,209,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 111,575 shares of company stock worth $17,022,387 over the last 90 days. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FI has been the topic of several recent research reports. B. Riley lifted their target price on shares of Fiserv from $176.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp boosted their price objective on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday. Stephens boosted their price objective on shares of Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.46.

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.