Fidelity National Information Services (NYSE:FIS) Releases FY 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.880-4.980 for the period, compared to the consensus estimate of 4.710. The company issued revenue guidance of $10.1 billion-$10.2 billion, compared to the consensus revenue estimate of $10.1 billion. Fidelity National Information Services also updated its FY24 guidance to $4.88-4.98 EPS.

Fidelity National Information Services Price Performance

FIS stock traded down $0.15 on Thursday, reaching $73.90. 1,126,922 shares of the company’s stock were exchanged, compared to its average volume of 4,443,435. The stock has a fifty day moving average of $70.79 and a 200-day moving average of $62.91. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $75.71. The firm has a market cap of $41.50 billion, a PE ratio of -7.24, a P/E/G 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.

Fidelity National Information Services (NYSE:FIS) last posted its 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. 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 quarter in the prior year, the company earned $1.29 earnings per share. Fidelity National Information Services’s revenue was up 2.9% compared to the same quarter last year. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is presently -14.08%.

Fidelity National Information Services declared that its board has authorized a stock buyback program on Monday, February 26th that allows the company to buyback $500.00 million in outstanding 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 usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

FIS has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Fidelity National Information Services from $78.00 to $82.00 and gave the company a neutral rating in a report on Tuesday. TheStreet raised Fidelity National Information Services from a d rating to a c rating in a research note on Monday, February 26th. BNP Paribas lowered Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price objective on the stock. in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price target on Fidelity National Information Services from $75.00 to $82.00 and gave the stock an outperform rating in a research report on Tuesday. Finally, Truist Financial boosted their price target on 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. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $78.11.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by 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.