Fidelity National Information Services (NYSE:FIS) Updates 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.

Fidelity National Information Services Trading Down 0.3 %

Shares of FIS stock traded down $0.26 during mid-day trading on Wednesday, reaching $74.05. 5,420,379 shares of the stock traded hands, compared to its average volume of 4,481,281. The company has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. 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 fifty day simple moving average is $70.79 and its two-hundred day simple moving average is $62.91. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $75.71.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date 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 authorized a share repurchase program on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FIS has been the topic of a number of recent research reports. UBS Group upped their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. Robert W. Baird lifted their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a neutral rating in a research note on Tuesday. William Blair reiterated an outperform rating on shares of Fidelity National Information Services in a research report on Tuesday. Susquehanna increased their price objective on Fidelity National Information Services from $81.00 to $86.00 and gave the stock a positive rating in a report on Wednesday. Finally, TD Cowen increased their price target on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the stock a hold rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $76.79.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction that occurred 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 purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.