/Fiserv%2C%20Inc_%20offices-by%20JHVEPhoto%20via%20iStock.jpg)
With a market cap of $88.1 billion, Wisconsin-based Fiserv, Inc. (FI) is a leading provider of financial services technology solutions across banking, insurance, healthcare, and investment industries worldwide. The company is expected to announce its fiscal Q2 earnings results on Wednesday, July 24.
Ahead of this event, analysts expect the payments firm to report a profit of $2.09 per share, up 15.5% from $1.81 per share in the year-ago quarter. The company has surpassed or matched Wall Street's bottom-line estimates in each of the last four quarterly reports. Strong consumer spending helped the company surpass the consensus EPS estimate by 6.2% in the most recent quarter.
For fiscal 2024, analysts expect FI to report EPS of $8.69, up 15.6% from $7.52 in fiscal 2023.
Shares of Fiserv have surged 21% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 25.2% gains and the S&P 500 Technology Sector SPDR's (XLK) 36.8% return over the same time frame.
Recently, shares of Fiserv surged 4.4% on Apr. 23 after its Q1 earnings results due to the company's better-than-expected bottom-line figure. This was bolstered by strong consumer spending trends and substantial growth in processing and services revenue, coupled with an upward revision of its annual profit forecast.
Analysts' consensus rating on Fiserv stock is bullish, with a "Strong Buy" rating overall. Out of 35 analysts covering the stock, 24 recommend a "Strong Buy," four give a "Moderate Buy," and seven advise a "Hold" rating. This configuration is more bullish than three months ago, with 22 analysts suggesting a "Strong Buy."
The average analyst price target for FI is $171.37, suggesting a potential upside of 13.9% from the current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
