Fiserv, Inc. to Post Q3 2024 Earnings of $2.25 Per Share, B. Riley Forecasts (NYSE:FI)

Fiserv, Inc. (NYSE:FI) – Equities research analysts at B. Riley lifted their Q3 2024 earnings per share estimates for Fiserv in a research note issued to investors on Tuesday, April 23rd. B. Riley analyst H. Goetsch now forecasts that the business services provider will post earnings of $2.25 per share for the quarter, up from their previous estimate of $2.24. B. Riley currently has a “Buy” rating and a $180.00 target price on the stock. The consensus estimate for Fiserv’s current full-year earnings is $8.67 per share. B. Riley also issued estimates for Fiserv’s FY2024 earnings at $8.74 EPS.

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 the consensus estimate of $1.77 by $0.11. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 earnings per share.

Several other brokerages have also recently weighed in on FI. Stephens reaffirmed an “equal weight” rating and issued a $165.00 price target on shares of Fiserv in a research note on Wednesday. StockNews.com assumed coverage on Fiserv in a report on Saturday, February 3rd. They issued a “buy” rating on the stock. Morgan Stanley boosted their target price on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. BMO Capital Markets boosted their target price on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, KeyCorp boosted their target price on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Fiserv Price Performance

Shares of FI stock opened at $155.89 on Friday. The stock has a market cap of $91.78 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.24 and a beta of 0.91. The business’s fifty day moving average is $152.54 and its 200 day moving average is $137.74. Fiserv has a twelve month low of $109.11 and a twelve month high of $159.99. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FI. Vanguard Group Inc. bought a new position in Fiserv in the third quarter valued at about $5,705,241,000. Price T Rowe Associates Inc. MD purchased a new stake in Fiserv in the fourth quarter worth about $5,885,279,000. Capital World Investors purchased a new stake in Fiserv in the fourth quarter worth about $2,329,623,000. Massachusetts Financial Services Co. MA purchased a new stake in Fiserv in the fourth quarter worth about $960,592,000. Finally, Veritas Asset Management LLP purchased a new stake in Fiserv in the fourth quarter worth about $927,298,000. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,209,646. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by company insiders.

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.