Fiserv (NYSE:FI) Updates FY 2024 Earnings Guidance

Fiserv (NYSE:FI) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on FI. Morgan Stanley increased their price objective on shares of Fiserv from $133.00 to $142.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Mizuho restated a buy rating and set a $156.00 price objective on shares of Fiserv in a research report on Wednesday, March 27th. Stephens increased their price objective on shares of Fiserv from $140.00 to $150.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Evercore ISI restated an outperform rating and set a $185.00 price objective on shares of Fiserv in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada increased their price target on shares of Fiserv from $144.00 to $158.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $157.79.

Fiserv Price Performance

FI traded up $8.46 during trading on Tuesday, hitting $157.26. 1,458,185 shares of the company traded hands, compared to its average volume of 2,498,543. The company has a market cap of $92.59 billion, a PE ratio of 29.76, a P/E/G ratio of 1.21 and a beta of 0.91. The stock’s 50-day simple moving average is $151.90 and its two-hundred day simple moving average is $136.94. Fiserv has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.

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

Insiders Place Their Bets

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 directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 111,575 shares of company stock valued at $17,022,387 in the last three months. Corporate 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.