Fiserv (NYSE:FI) Issues FY24 Earnings Guidance

by · The Cerbat Gem

Fiserv (NYSE:FI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.73-8.80 for the period, compared to the consensus earnings per share estimate of $8.75. Fiserv also updated its FY 2024 guidance to 8.730-8.800 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FI shares. Citigroup upgraded Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. KeyCorp upped their price target on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. TD Cowen boosted their price objective on shares of Fiserv from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price target on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.92.

Get Our Latest Stock Report on FI

Fiserv Stock Down 2.6 %

Fiserv stock opened at $192.08 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $112.39 billion, a PE ratio of 36.85, a PEG ratio of 1.44 and a beta of 0.93. The firm’s fifty day moving average is $177.77 and its 200 day moving average is $161.51. Fiserv has a 12-month low of $109.11 and a 12-month high of $198.86.

Fiserv (NYSE:FI – Get Free Report) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Fiserv will post 8.74 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

In other news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Fiserv news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,890 shares of company stock valued at $32,855,417. Corporate insiders own 0.75% of the company’s stock.

Fiserv Company Profile

(Get Free Report)

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.

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