Fiserv (NYSE:FI) Updates FY 2024 Earnings Guidance

Fiserv (NYSE:FI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 8.600-8.750 for the period, compared to the consensus earnings per share estimate of 8.630. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.60-8.75 EPS.

Fiserv Price Performance

Shares of FI traded down $3.00 during trading hours on Wednesday, reaching $152.39. The stock had a trading volume of 899,902 shares, compared to its average volume of 2,530,884. The stock has a market capitalization of $89.72 billion, a PE ratio of 30.52, a PEG ratio of 1.22 and a beta of 0.91. Fiserv has a 12 month low of $109.11 and a 12 month high of $159.99. The company’s 50-day moving average is $152.14 and its two-hundred day moving average is $137.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04.

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. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the business posted $1.58 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Fiserv will post 8.63 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FI. Barclays raised their price target on shares of Fiserv from $165.00 to $185.00 and gave the company an overweight rating in a research report on Monday, April 1st. Stephens reaffirmed an equal weight rating and issued a $165.00 price target on shares of Fiserv in a research report on Wednesday. UBS Group raised their price target on shares of Fiserv from $170.00 to $185.00 and gave the company a buy rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on shares of Fiserv from $150.00 to $160.00 and gave the stock a hold rating in a research report on Monday, March 25th. Finally, BMO Capital Markets lifted their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday. 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, the stock has an average rating of Moderate Buy and an average price target of $161.46.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 23,929 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,847,871.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 111,575 shares of company stock worth $17,022,387. Company insiders own 0.75% of the company’s stock.

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.