Fiserv

FI’s Q1 earnings were strong and are being well received today, driven by 1) better-than-expected bottom line results (adj-EPS of $1.88 surpassed consensus by $0.09); 2) sustained Clover revenue uptick, up 30% Y/Y with VAS penetration of 20%; and 3) raised 2024 guidance for adj-EPS of $8.60-$8.75 and adj-operating margin expansion of at least 125 bps. Q1 adj-revenues came in at $4.54B (+7%, +20% organically), led by Merchant Solutions (+13%, +36% organically). Financial Solutions were a little softer (+2%, +5% organically), but we note key client wins should support demand for digital payment solutions. Our 12-month target price of $180 (unchanged), 18.1x our 2025 EPS estimate, is a slight premium to FI’s three-year average of 17.0x. We up our 2024 EPS view by $0.10 to $8.75 and keep 2025’s at $9.95. Our outlook remains positive given the opportunity we see in Merchant Solutions, specifically Clover, based on sustained annualized GPV […]

Fiserv Reports First Quarter 2024 Results GAAP revenue growth of 7% and organic revenue growth of 20%; GAAP EPS increased 39% and adjusted EPS increased 19%; Company affirms 2024 organic revenue growth outlook of 15% to 17% and raises adjusted EPS outlook to $8.60 to $8.75 MILWAUKEEMILWAUKEE–(BUSINESS WIRE)–April 23, 2024– Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the first quarter of 2024. First Quarter 2024 GAAP Results GAAP revenue for the company increased 7% to $4.88 billion in the first quarter of 2024 compared to the prior year period, with 13% growth in the Merchant Solutions segment and 3% growth in the Financial Solutions segment. GAAP earnings per share was $1.24 in the first quarter of 2024, an increase of 39% compared to the prior year period. GAAP operating margin was 24.2% in the first quarter of

The following is a summary of the Fiserv, Inc. (FI) Q1 2024 Earnings Call Transcript: Financial Performance: Fiserv reported Q1 adjusted earnings per share of $1.88, up 19%, reflecting ongoing revenue growth and operating margin expansion. Adjusted revenue growth was 7% and adjusted operating margin was 35.8%, an increase of 180 basis points. Organic revenue growth stood at 20%, leading to a raised outlook on adjusted earnings per share to a range of $8.60 to $8.75, a projected growth of 14% to 16%. The company revised their adjusted operating margin expansion forecast for the year to at least 125 basis points, up from a previous outlook of 100 basis points. Business Progress: Fiserv has restructured into two segments: Merchant Solution and Financial Solution, providing a clearer view of client engagement with their solutions. New Clover products are slated for launch within the year under Merchant Solutions, with strong demand anticipated

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: FI’s Q1 earnings were strong and are being well received today, driven by 1) better-than-expected bottom line results (adj-EPS of $1.88 surpassed consensus by $0.09); 2) sustained Clover revenue uptick, up 30% Y/Y with VAS penetration of 20%; and 3) raised 2024 guidance for adj-EPS of $8.60-$8.75 and adj-operating margin expansion of at least 125 bps. Q1 adj-revenues came in at $4.54B (+7%, +20% organically), led by Merchant Solutions (+13%, +36% organically). Financial Solutions were a little softer (+2%, +5% organically), but we note key client wins should support demand for digital payment solutions. Our 12-month target price of $180 (unchanged), 18.1x our 2025 EPS estimate, is a slight premium to FI’s three-year average of 17.0x. We up our 2024 EPS view by $0.10 to $8.75 and

Mizuho analyst Dan Dolev maintains Fiserv with a Buy and maintains $156 price target.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: FI’s share price has shown strength (+19% year-to-date) and we believe there is still more upside given improving fundamentals and strong revenue growth with high profitability. We raise our 12-month target by $20 to $180 using a forward P/E of 18.1x, in line with its three-year forward average. We keep our 2024 EPS view at $8.65 and 2025’s at $9.95; our revenue forecast is $19.6B (+9%) in 2024 and $21.4B (+9%) in 2025. In our view, FI’s core merchant business solutions, Carat and Clover, will drive revenue growth by tapping into the digital payment surge. With Clover set to enter five new international markets by 2025 and the e-commerce boom, FI’s Merchant segment, which is integrated with online tools, is poised for expansion fueled by trends like

Fiserv, Inc. (NYSE: FI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/12/2024 14.19% Barclays $150 → $165 Maintains Overweight 02/08/2024 8.66% BMO Capital $152 → $157 Maintains Outperform 02/07/2024 21.81% B. Riley Securities $152 → $176 Maintains Buy 02/07/2024 0.35% Truist Securities $140 → $145 Maintains Hold 02/07/2024 -1.72% Morgan Stanley $133 → $142 Maintains Equal-Weight 02/07/2024 9.35% RBC Capital $144 → $158 Maintains Outperform 02/07/2024 3.81% Stephens & Co. $140 → $150 Maintains Equal-Weight 01/18/2024 7.97% Mizuho $150 → $156 Maintains Buy 01/08/2024 10.73% Keybanc → $160 Upgrades Sector Weight → Overweight 12/22/2023 21.12% Tigress Financial $160 → $175 Maintains Buy 12/05/2023 5.2% BMO Capital → $152 Initiates Coverage On → Outperform 11/16/2023 3.81% UBS $140 → $150 Maintains Buy 11/16/2023 3.81% Mizuho $140 → $150 Maintains Buy 11/16/2023 -0.34% RBC Capital → $144 Reiterates Outperform → Outperform 11/16/2023 3.81%

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our unchanged 12-month target price of $160, 16.1x our 2025 EPS estimate, discounts FI’s three-year average of 17.4x, merited given the mixed Q4 bag. Strong organic revenue guidance for 2024 (15%-17%) and Q4 Merchant Acceptance growth took a backseat to Fintech declines (-3% Y/Y). We lift our 2024 EPS view to $8.65 from $8.60 and set 2025’s at $9.95. Revenue came in at $4.64B (+6% Y/Y), missing consensus of $4.68B, while Q4 adj-EPS of $2.19 edged out consensus by $0.04. Clover posted an encouraging 30% Y/Y revenue increase as VAS penetration spiked to 19% (vs. 16% Y/Y), boosting transaction yields by 17% ($271B in annualized GPV) and driving a 14% revenue rise for Merchant Acceptance. Adj-operating margin expanded 150 bps in Q4 (40.7%) and 220 bps in

The following is a summary of the Fiserv, Inc. (FI) Q4 2023 Earnings Call Transcript: Financial Performance: Fiserv recorded a successful 2023 with an organic revenue growth of 12%, over 200 basis points of adjusted operating margin expansion, and 16% growth in adjusted earnings per share generating free cash flow of $4 billion. In Q4 2023, adjusted revenue growth of 6% to $4.6 billion, with an adjusted operating income growth of 10% to $1.9 billion, leading to an adjusted operating margin of 40.7%. For the full year 2023, the adjusted operating margin rose to 37.3% with Fiserv’s adjusted EPS increasing 16% to $7.52. Decreased its debt to adjusted EBITDA ratio to 2.7 times, within the company’s targeted leverage range. For 2024, projects an adjusted EPS of $8.55 to $8.70, indicating 14%-16% growth over 2023 and anticipates organic revenue growth of 15% to 17%. Business Progress: Progress was reported in Merchant

Fiserv Reports Fourth Quarter and Full Year 2023 Results GAAP revenue growth of 6% in the quarter and 8% for the full year; GAAP EPS increased 18% in the quarter and 27% for the full year; Operating cash flow increased 12% to $5.16 billion for the full year; Organic revenue growth of 12% both in the quarter and for the full year; Adjusted EPS increased 15% in the quarter and 16% for the full year; Free cash flow increased 14% to $4.02 billion for the full year; Company expects 2024 organic revenue growth of 15% to 17% and adjusted EPS of $8.55 to $8.70, or growth of 14% to 16% BROOKFIELD, Wis.–(BUSINESS WIRE)–February 06, 2024– Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today reported financial results for the fourth quarter and full year 2023. Fourth Quarter and Full Year 2023 GAAP Results

Fiserv Sees 2024 Adj EPS $8.55-Adj EPS $8.70.

Fiserv Sees 2024 Organic Rev Growth of 15%-17%.