Wall Street brokerages predict that Fiserv, Inc. (NASDAQ:FISV) will announce $1.45 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Fiserv’s earnings, with the lowest sales estimate coming in at $1.44 billion and the highest estimate coming in at $1.46 billion. Fiserv posted sales of $1.38 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The company is expected to announce its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Fiserv will report full year sales of $1.45 billion for the current fiscal year, with estimates ranging from $5.72 billion to $5.78 billion. For the next financial year, analysts forecast that the business will report sales of $6.04 billion per share, with estimates ranging from $5.98 billion to $6.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Fiserv.
Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.04. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS.
A number of equities research analysts have recently issued reports on FISV shares. Royal Bank Of Canada restated a “hold” rating and set a $123.00 price objective on shares of Fiserv in a report on Friday, April 28th. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and lifted their price target for the company from $131.00 to $136.00 in a research report on Monday, July 17th. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Credit Suisse Group reiterated a “hold” rating and issued a $116.00 price target on shares of Fiserv in a research report on Friday, April 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $118.00 price target on shares of Fiserv in a research report on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $125.06, for a total value of $2,126,020.00. Following the sale, the insider now owns 303,151 shares in the company, valued at approximately $37,912,064.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 51,000 shares of company stock worth $6,339,810 in the last three months. Insiders own 1.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Gardiner Nancy B raised its stake in Fiserv by 6.5% in the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock worth $1,445,000 after buying an additional 762 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Fiserv by 155.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 381,807 shares of the business services provider’s stock worth $44,026,000 after buying an additional 232,364 shares in the last quarter. British Columbia Investment Management Corp raised its stake in Fiserv by 6.3% in the first quarter. British Columbia Investment Management Corp now owns 84,563 shares of the business services provider’s stock worth $9,751,000 after buying an additional 5,016 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Fiserv by 25.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 16,179 shares of the business services provider’s stock worth $1,866,000 after buying an additional 3,304 shares in the last quarter. Finally, University of Texas Investment Managment Co. acquired a new stake in Fiserv during the first quarter worth $184,000. Institutional investors own 87.60% of the company’s stock.
Fiserv (NASDAQ:FISV) traded down 0.01% during trading on Thursday, reaching $123.29. The company’s stock had a trading volume of 243,769 shares. The stock has a market cap of $25.95 billion, a P/E ratio of 30.18 and a beta of 0.81. Fiserv has a 52-week low of $92.81 and a 52-week high of $129.35. The firm’s 50-day moving average is $124.44 and its 200-day moving average is $118.91.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/2799035/1-45-billion-in-sales-expected-for-fiserv-inc-fisv-this-quarter.html.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fiserv Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv Inc. and related companies with MarketBeat.com's FREE daily email newsletter.