What is KeyCorp's Forecast for Fiserv FY2024 Earnings?

Fiserv, Inc. (NYSE:FI - Free Report) - Research analysts at KeyCorp issued their FY2024 earnings estimates for shares of Fiserv in a research note issued to investors on Wednesday, December 18th. KeyCorp analyst A. Markgraff forecasts that the business services provider will earn $8.78 per share for the year. KeyCorp has a "Overweight" rating and a $225.00 price target 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.

Several other research analysts have also recently weighed in on the company. Susquehanna lifted their price target on Fiserv from $190.00 to $230.00 and gave the company a "positive" rating in a research report on Friday, October 18th. Citigroup boosted their target price on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their price objective on shares of Fiserv from $195.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $222.88.

Fiserv Stock Performance

Shares of FI stock traded up $3.79 on Friday, hitting $206.05. The company had a trading volume of 6,751,704 shares, compared to its average volume of 2,560,688. Fiserv has a twelve month low of $131.41 and a twelve month high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market cap of $117.23 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. The company has a 50-day moving average price of $207.37 and a 200-day moving average price of $178.87.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter last year, the company posted $1.96 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year.

Institutional Investors Weigh In On Fiserv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Soros Capital Management LLC increased its position in shares of Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider's stock worth $9,844,000 after purchasing an additional 22,884 shares during the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv during the third quarter valued at about $4,709,000. Maxwell Wealth Strategies Inc. increased its position in shares of Fiserv by 23.6% during the third quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider's stock valued at $2,696,000 after acquiring an additional 2,869 shares during the last quarter. Park Place Capital Corp raised its stake in shares of Fiserv by 66.3% in the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider's stock valued at $1,259,000 after acquiring an additional 2,794 shares during the period. Finally, Radnor Capital Management LLC acquired a new position in shares of Fiserv in the 3rd quarter worth approximately $1,543,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Buying and Selling

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by insiders.

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.