Fiserv (NYSE:FI) Releases FY24 Earnings Guidance

Fiserv (NYSE:FI) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Fiserv Price Performance

Shares of FI opened at $153.29 on Friday. The company has a 50 day moving average price of $152.39 and a 200-day moving average price of $137.45. Fiserv has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The stock has a market capitalization of $90.25 billion, a PE ratio of 28.65, a PEG ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. Fiserv’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that Fiserv will post 8.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore ISI restated an outperform rating and set a $185.00 price target on shares of Fiserv in a research note on Tuesday, March 26th. B. Riley upped their price target on shares of Fiserv from $176.00 to $180.00 and gave the company a buy rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Fiserv from $133.00 to $142.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Robert W. Baird upped their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Oppenheimer upgraded shares of Fiserv from a market perform rating to an outperform rating and set a $168.00 price objective on the stock in a research note on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Fiserv presently has an average rating of Moderate Buy and a consensus target price of $164.33.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,209,646. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 111,575 shares of company stock valued at $17,022,387. Corporate 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.