Fiserv (NYSE:FI) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Fiserv (NYSE:FI) released its earnings results on Tuesday. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11, Briefing.com reports. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business 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 company earned $1.58 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Fiserv updated its FY24 guidance to $8.60-8.75 EPS and its FY 2024 guidance to 8.600-8.750 EPS.

Fiserv Price Performance

Shares of FI stock opened at $152.25 on Thursday. Fiserv has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The firm has a market capitalization of $89.64 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.27 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. The stock’s 50-day simple moving average is $152.28 and its 200-day simple moving average is $137.34.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $25,209,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 111,575 shares of company stock worth $17,022,387. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Fiserv in a research report on Wednesday. Morgan Stanley raised their price target on Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com assumed coverage on Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating 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. Finally, Citigroup raised their price target on Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.33.

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.