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

Fiserv, Inc. (NYSE:FI) – Stock analysts at B. Riley lifted their Q3 2024 earnings estimates for Fiserv in a research report issued 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 prior estimate of $2.24. B. Riley has a “Buy” rating and a $180.00 price target 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 announced its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. Mizuho reaffirmed a “buy” rating and set a $156.00 price objective on shares of Fiserv in a research report on Wednesday, March 27th. BMO Capital Markets boosted their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, March 25th. Morgan Stanley boosted their target price on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Citigroup boosted their target price on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Stock Performance

Shares of FI opened at $155.89 on Friday. The company’s 50 day moving average price is $152.54 and its 200 day moving average price is $137.74. Fiserv has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a market capitalization of $91.78 billion, a PE ratio of 29.14, a PEG ratio of 1.24 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.

Hedge Funds Weigh In On Fiserv

Several large investors have recently bought and sold shares of FI. Pinnacle Associates Ltd. raised its stake in shares of Fiserv by 1.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 16,905 shares of the business services provider’s stock valued at $2,702,000 after buying an additional 237 shares in the last quarter. Trueblood Wealth Management LLC raised its stake in shares of Fiserv by 21.9% in the 1st quarter. Trueblood Wealth Management LLC now owns 2,547 shares of the business services provider’s stock valued at $407,000 after buying an additional 458 shares in the last quarter. Northwest Bancshares Inc. raised its stake in shares of Fiserv by 58.8% in the 1st quarter. Northwest Bancshares Inc. now owns 4,036 shares of the business services provider’s stock valued at $645,000 after buying an additional 1,495 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Fiserv in the 1st quarter valued at $180,000. Finally, SlateStone Wealth LLC acquired a new position in shares of Fiserv in the 1st quarter valued at $855,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,209,646. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 111,575 shares of company stock worth $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by 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.