Fidelity National Information Services (NYSE:FIS) Issues 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 (EPS) guidance of 1.210-1.250 for the period, compared to the consensus 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 Stock Performance

Shares of FIS traded down $0.27 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 stock has a market cap of $39.56 billion, a PE ratio of -6.28, a PEG ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $74.75. The company has a current ratio of 0.75, a quick 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 two-hundred day simple moving average is $62.60.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. On average, analysts forecast that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

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

Fidelity National Information Services announced that its board has initiated a share buyback program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FIS has been the topic of a number of recent research reports. Morgan Stanley upped their price target 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. Truist Financial increased their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, February 27th. Mizuho upped their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a report on Friday, February 23rd. Finally, Evercore ISI lifted their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the company an in-line rating in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fidelity National Information Services has an average rating of Moderate Buy and an average price target of $72.50.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the transaction, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.68% of the company’s stock.

Fidelity National Information Services Company Profile

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.