FY2024 Earnings Forecast for Fiserv Issued By KeyCorp

Fiserv, Inc. (NYSE:FI) – KeyCorp issued their FY2024 earnings per share estimates for Fiserv in a research report issued on Wednesday, December 18th. KeyCorp analyst A. Markgraff forecasts that the business services provider will post earnings per share of $8.78 for the year. KeyCorp has a “Overweight” rating and a $225.00 price objective on the stock. The consensus estimate for Fiserv’s current full-year earnings is $8.77 per share. KeyCorp also issued estimates for Fiserv’s Q4 2024 earnings at $2.48 EPS.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 earnings per share.

Other analysts also recently issued reports about the company. Compass Point assumed coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Tigress Financial upped their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target on shares of Fiserv from $220.00 to $258.00 and gave the stock an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.88.

Fiserv Price Performance

Shares of NYSE FI opened at $206.05 on Friday. The stock has a market cap of $117.23 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 1.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv has a fifty-two week low of $131.41 and a fifty-two week high of $223.23. The firm’s 50-day simple moving average is $207.37 and its 200 day simple moving average is $179.09.

Institutional Investors Weigh In On Fiserv

Large investors have recently added to or reduced their stakes in the business. 1ST Source Bank grew its stake in Fiserv by 2.3% in the 3rd quarter. 1ST Source Bank now owns 4,760 shares of the business services provider’s stock worth $855,000 after buying an additional 105 shares in the last quarter. Birmingham Capital Management Co. Inc. AL purchased a new position in Fiserv in the third quarter worth $218,000. Forthright Family Wealth Advisory LLC purchased a new position in Fiserv in the third quarter worth $193,000. Oddo BHF Asset Management Sas bought a new position in Fiserv in the third quarter valued at $1,559,000. Finally, Synovus Financial Corp raised its position in Fiserv by 67.4% during the third quarter. Synovus Financial Corp now owns 110,567 shares of the business services provider’s stock valued at $19,863,000 after purchasing an additional 44,519 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In other news, Director Heidi Miller sold 30,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,821 shares of company stock valued at $18,581,095. Company insiders own 0.75% of the company’s stock.

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.