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

Fidelity National Information Services (NYSE:FIS) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.21-1.25 for the period, compared to the consensus EPS estimate of $1.14. The company issued revenue guidance of $2.465-2.490 billion, compared to the consensus revenue estimate of $2.49 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Fidelity National Information Services Trading Up 4.6 %

Shares of NYSE:FIS traded up $3.24 during midday trading on Tuesday, hitting $73.69. 5,457,305 shares of the stock were exchanged, compared to its average volume of 4,421,767. The business’s 50-day moving average price is $70.64 and its 200 day moving average price is $62.74. The stock has a market capitalization of $41.38 billion, a price-to-earnings ratio of -6.58, a P/E/G ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 12 month low of $46.91 and a 12 month high of $75.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last issued 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 company 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%. Fidelity National Information Services’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid 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 is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is presently -12.81%.

Fidelity National Information Services announced that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BNP Paribas downgraded shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 target price for the company. in a research report on Thursday, April 11th. Bank of America raised their price objective 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. UBS Group raised their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. William Blair reiterated an outperform rating on shares of Fidelity National Information Services in a research note on Tuesday. Finally, Evercore ISI upped their target price on Fidelity National Information Services from $75.00 to $80.00 and gave the company an in-line rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $74.63.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

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.