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 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 Trading Up 4.2 %

FIS stock traded up $2.93 during midday trading on Tuesday, reaching $73.38. 5,687,090 shares of the company traded hands, compared to its average volume of 4,425,308. The firm has a market capitalization of $41.20 billion, a price-to-earnings ratio of -6.58, a P/E/G ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50 day moving average of $70.64 and a 200-day moving average of $62.74. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $75.71.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results 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 negative net margin of 54.30% and a positive return on equity of 13.06%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.96%. Fidelity National Information Services’s dividend payout ratio (DPR) is -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a share repurchase plan on Monday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FIS has been the topic of a number of research analyst reports. William Blair restated an outperform rating on shares of Fidelity National Information Services in a research note on Tuesday. Bank of America lifted their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a research report on Tuesday, April 16th. UBS Group raised their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised 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 research report on Friday, February 23rd. Finally, Stephens reaffirmed an overweight rating and issued a $90.00 price target on shares of Fidelity National Information Services in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $74.63.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction on Monday, April 15th. The shares were acquired at an average price 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 $655,093.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 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.