Buzz-Fiserv tumbles after slashing annual profit forecast
FI•Quarterly results miss estimates
** Fiserv posts Q2 adjusted EPS of $1.84 and adjusted revenue of $4.96 billion, both below analysts' consensus estimates of $1.91 and $5.04 billion
** Nine of 37 brokerages rate the stock "buy" or higher, 26 "hold" and two "sell" or lower; the median price target is $64, according to LSEG data
** As of the close, the stock is down 19.4% year to date, versus a 12.8% increase in the S&P 500 index
Shares fall after profit forecast cut
** Shares of payments firm Fiserv fall 11.5% to $47.89 in premarket trading
** The company lowers its FY26 adjusted EPS forecast to between $7.20 and $7.40 from a previous forecast of $8.00 to $8.30, while analysts on average estimate $8.10 EPS, according to data compiled by LSEG
** The company has suffered through a difficult year, pursuing a turnaround plan due to a decline in market value and substantial fallout from leadership changes
** Activist investor Jana Partners has stepped up pressure on Fiserv to strategically review its entire portfolio and refresh the board
