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 (EPS) guidance of $4.88-4.98 for the period, compared to the consensus 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 Trading Down 0.2 %

NYSE:FIS traded down $0.12 during trading hours on Thursday, hitting $73.93. The company had a trading volume of 1,024,668 shares, compared to its average volume of 4,440,941. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The company has a market capitalization of $41.51 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The stock has a 50-day moving average price of $70.79 and a 200 day moving average price of $62.91.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research 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. Investors of record on Monday, June 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. Fidelity National Information Services’s dividend payout ratio is presently -14.08%.

Fidelity National Information Services declared that its board has initiated a share repurchase 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FIS has been the topic of several research reports. Barclays boosted their price objective on shares of Fidelity National Information Services from $83.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday. Wedbush reaffirmed an outperform rating and set a $75.00 price objective on shares of Fidelity National Information Services in a research report on Wednesday. Robert W. Baird boosted their target price on Fidelity National Information Services from $78.00 to $82.00 and gave the stock a neutral rating in a report on Tuesday. Mizuho lifted their price target on Fidelity National Information Services from $76.00 to $85.00 and gave the stock a buy rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of 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. Eight equities 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’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $78.11.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by corporate insiders.

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.