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 guidance of 4.880-4.980 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FIS shares. Keefe, Bruyette & Woods boosted their target price on shares of Fidelity National Information Services from $82.00 to $85.00 and gave the company an outperform rating in a report on Wednesday. Barclays boosted their target price on Fidelity National Information Services from $83.00 to $85.00 and gave the company an overweight rating in a research report on Thursday. Evercore ISI lifted their price target on 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 restated an overweight rating and set a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday. Finally, The Goldman Sachs Group began coverage on Fidelity National Information Services in a report on Thursday, February 29th. They set a buy rating and a $84.00 price target on the stock. 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. Based on data from MarketBeat, Fidelity National Information Services has a consensus rating of Moderate Buy and a consensus target price of $78.11.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock traded down $0.15 on Thursday, reaching $73.90. The stock had a trading volume of 1,126,922 shares, compared to its average volume of 4,443,435. The business’s 50 day moving average is $70.79 and its two-hundred day moving average is $62.91. The company has a market cap of $41.50 billion, a P/E ratio of -7.24, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71. 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, beating 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 business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. As a group, research analysts anticipate that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is currently -14.08%.

Fidelity National Information Services declared that its board has approved a share buyback plan 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through 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.