Fidelity National Information Services (NYSE:FIS) Issues Q2 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its second quarter 2024 earnings guidance on Monday. 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 Up 4.2 %

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

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. As a group, sell-side analysts expect that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The firm 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. This represents a $1.44 annualized dividend and a yield of 1.96%. 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 has authorized a stock buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They set a buy rating and a $84.00 price target for the company. Evercore ISI lifted their target price on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the company an in-line rating in a research note on Tuesday. Stephens reaffirmed an overweight rating and issued a $90.00 price target on shares of Fidelity National Information Services in a research note on Tuesday. Bank of America boosted their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, UBS Group lifted their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Eight equities 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 data from MarketBeat, Fidelity National Information Services has an average rating of Moderate Buy and an average price target of $74.63.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is 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.