Fidelity National Information Services (NYSE:FIS) Issues 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 EPS guidance of 4.880-4.980 for the period, compared to the consensus EPS 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

Shares of FIS stock traded up $3.24 during trading hours on Tuesday, reaching $73.69. The company’s stock had a trading volume of 5,457,305 shares, compared to its average volume of 4,421,767. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $75.71. The firm’s 50 day simple moving average is $70.64 and its 200-day simple moving average is $62.74. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of -6.58, a PEG ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last released 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Sell-side analysts forecast that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. Fidelity National Information Services’s payout ratio is presently -12.81%.

Fidelity National Information Services announced that its board has authorized a stock buyback program on Monday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America lifted their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Robert W. Baird boosted their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the stock a neutral rating in a research note on Tuesday. The Goldman Sachs Group started coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price objective for the company. Mizuho lifted their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $74.63.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The shares were purchased 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 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 available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

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.