Fidelity National Information Services (NYSE:FIS) Releases Q2 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.210-1.250 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of $2.5 billion-$2.5 billion, compared to the consensus revenue estimate of $2.5 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FIS. Morgan Stanley raised their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Stephens restated an overweight rating and issued a $90.00 price objective on shares of Fidelity National Information Services in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Mizuho raised their price objective on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Finally, BNP Paribas cut Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target on the stock. in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of Moderate Buy and a consensus target price of $74.63.

Fidelity National Information Services Trading Up 4.6 %

Shares of FIS traded up $3.24 during midday trading on Tuesday, hitting $73.69. The stock had a trading volume of 5,457,305 shares, compared to its average volume of 4,421,767. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50 day moving average is $70.64 and its 200 day moving average is $62.74. The firm has a market cap of $41.38 billion, a PE ratio of -6.58, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services declared that its Board of Directors has approved a share buyback program on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is currently owned by company insiders.

About Fidelity National Information Services

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.