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HomeBusinessFiserv Shares Surge 8 percent Following Q4 Results

Fiserv Shares Surge 8 percent Following Q4 Results

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Fiserv Inc (NASDAQ:FISV) shares gained more than 8% yesterday after the company reported its Q4 results, with EPS of $1.91, in-line with expectations, and revenue of $4.36 billion, slightly better than the consensus estimate of $4.35 billion.
The company provided its fiscal 2023 outlook, expecting EPS to be in the range of $7.25-$7.40, compared to the consensus estimate of $7.28.
According to the analysts at Deutsche Bank, much of the credit for the robust quarter, past 18-month results and solid 2023 guidance needs to be given to CEO Frank Bisignano for changing the organic revenue growth of the company to sustainable higher levels.
Given solid continued execution and the expectation for a 38th consecutive year of double-digit EPS growth, the analysts believe the company is deserving of the premium it trades at vs peers. Based on the updated outlook, the analysts raised their 2023/2024 EPS by $0.16/$0.24 to $7.29/$8.10 and introduced a 2025 EPS of $8.99.

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