Fiserv (NYSE:FI) Issues FY24 Earnings Guidance

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

Fiserv Stock Up 3.9 %

Shares of NYSE:FI opened at $154.61 on Tuesday. The company has a market capitalization of $91.03 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.21 and a beta of 0.91. The stock’s fifty day simple moving average is $151.90 and its 200-day simple moving average is $136.94. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.09. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 earnings per share. As a group, equities research analysts forecast that Fiserv will post 8.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FI. BNP Paribas upgraded shares of Fiserv from a neutral rating to an outperform rating in a report on Wednesday, January 10th. StockNews.com began coverage on shares of Fiserv in a report on Saturday, February 3rd. They issued a buy rating for the company. KeyCorp boosted their target price on shares of Fiserv from $160.00 to $170.00 and gave the company an overweight rating in a report on Monday. Evercore ISI reiterated an outperform rating and set a $185.00 price objective on shares of Fiserv in a research note on Tuesday, March 26th. Finally, Truist Financial boosted their price objective on shares of Fiserv from $140.00 to $145.00 and gave the stock a hold rating in a research note on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $157.79.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is currently owned by corporate insiders.

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.