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

Fidelity National Information Services (NYSE:FIS) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.210-1.250 for the period, compared to the consensus earnings per share 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 Analysts Forecast Growth

A number of research firms recently commented on FIS. BNP Paribas cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target for the company. in a research note on Thursday, April 11th. Bank of America upped their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a research note on Tuesday, April 16th. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a research note on Thursday, February 29th. They set a buy rating and a $84.00 price target for the company. Morgan Stanley upped their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada lifted their target price on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an outperform rating in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $72.50.

Fidelity National Information Services Stock Down 0.4 %

Shares of NYSE FIS traded down $0.27 during midday trading on Monday, reaching $70.45. 5,184,105 shares of the company’s stock traded hands, compared to its average volume of 4,411,686. The company has a market cap of $39.56 billion, a price-to-earnings ratio of -6.28, a P/E/G ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $70.56 and its 200-day simple moving average is $62.60.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 earnings per share. On average, analysts predict that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is -12.81%.

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

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction on Monday, April 15th. The stock was bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing 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.