SunTrust Banks Equities Analysts Reduce Earnings Estimates for Fiserv, Inc. (FISV)
Fiserv, Inc. (NASDAQ:FISV) – Research analysts at SunTrust Banks reduced their FY2017 EPS estimates for Fiserv in a research note issued to investors on Tuesday. SunTrust Banks analyst A. Jeffrey now expects that the business services provider will post earnings of $5.12 per share for the year, down from their prior estimate of $5.13. SunTrust Banks currently has a “Hold” rating and a $130.00 target price on the stock. SunTrust Banks also issued estimates for Fiserv’s Q4 2017 earnings at $1.42 EPS, Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.40 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.61 EPS, FY2018 earnings at $5.78 EPS and FY2019 earnings at $6.45 EPS.
FISV has been the subject of several other reports. Barclays PLC reaffirmed an “equal weight” rating and set a $123.00 price target (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. BidaskClub raised shares of Fiserv from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $146.00 price target (up from $136.00) on shares of Fiserv in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $115.00 price target on shares of Fiserv in a research note on Thursday, October 12th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $128.45.
ILLEGAL ACTIVITY NOTICE: “SunTrust Banks Equities Analysts Reduce Earnings Estimates for Fiserv, Inc. (FISV)” was reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/11/02/suntrust-banks-equities-analysts-reduce-earnings-estimates-for-fiserv-inc-fisv.html. Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.45 billion. Fiserv had a net margin of 16.31% and a return on equity of 43.10%. Fiserv’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the completion of the sale, the insider now owns 269,151 shares of the company’s stock, valued at approximately $32,841,805.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim M. Robak sold 6,124 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $124.54, for a total value of $762,682.96. Following the sale, the director now directly owns 42,141 shares of the company’s stock, valued at approximately $5,248,240.14. The disclosure for this sale can be found here. Insiders have sold a total of 57,124 shares of company stock valued at $7,133,943 in the last ninety days. Insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Fiserv by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,301,552 shares of the business services provider’s stock valued at $2,606,032,000 after purchasing an additional 518,262 shares during the last quarter. BlackRock Inc. lifted its holdings in Fiserv by 3.7% during the 2nd quarter. BlackRock Inc. now owns 14,873,800 shares of the business services provider’s stock valued at $1,819,663,000 after purchasing an additional 528,274 shares during the last quarter. FMR LLC lifted its holdings in Fiserv by 0.7% during the 2nd quarter. FMR LLC now owns 6,907,966 shares of the business services provider’s stock valued at $845,121,000 after purchasing an additional 47,797 shares during the last quarter. Longview Partners Guernsey LTD lifted its holdings in Fiserv by 23.3% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,391,519 shares of the business services provider’s stock valued at $695,290,000 after purchasing an additional 1,020,121 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Fiserv by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,527,505 shares of the business services provider’s stock valued at $431,555,000 after purchasing an additional 232,005 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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