Fidelity National Information Services (NYSE:FIS) Issues FY24 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.88-4.98 for the period, compared to the consensus earnings per share estimate of $4.72. The company issued revenue guidance of $10.10-10.15 billion, compared to the consensus revenue estimate of $10.13 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock traded down $0.26 during mid-day trading on Wednesday, reaching $74.05. The company’s stock had a trading volume of 5,420,379 shares, compared to its average volume of 4,481,281. The firm’s fifty day moving average price is $70.79 and its two-hundred day moving average price is $62.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $75.71. The company has a market capitalization of $41.58 billion, a P/E ratio of -6.59, a PEG ratio of 0.88 and a beta of 0.98.

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

Fidelity National Information Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Fidelity National Information Services declared that its board has approved a stock buyback program on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on FIS. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price target on the stock. Susquehanna lifted their price target on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the stock a positive rating in a research note on Wednesday. Bank of America upped their price objective on shares of 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. Robert W. Baird raised their price target on Fidelity National Information Services from $78.00 to $82.00 and gave the stock a neutral rating in a research report on Tuesday. Finally, BNP Paribas downgraded shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price objective for the company. in a research note on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $76.79.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

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.