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.

Fidelity National Information Services Stock Performance

NYSE FIS traded up $2.93 during trading on Tuesday, reaching $73.38. The company’s stock had a trading volume of 5,687,090 shares, compared to its average volume of 4,425,308. Fidelity National Information Services has a 12 month low of $46.91 and a 12 month high of $75.71. The firm has a 50 day moving average price of $70.64 and a 200 day moving average price of $62.74. The firm has a market capitalization of $41.20 billion, a price-to-earnings ratio of -6.58, a price-to-earnings-growth 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 issued its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) 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 business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate 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. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 annualized dividend and a yield of 1.96%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a share buyback plan on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FIS has been the subject of several recent analyst reports. Mizuho upped their price objective on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Truist Financial upped their price objective on shares of 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. Evercore ISI upped their price target on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an in-line rating in a report on Tuesday. Morgan Stanley boosted their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Finally, TheStreet upgraded Fidelity National Information Services from a d rating to a c rating in a research report on Monday, February 26th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $74.63.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost 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 in the company, valued at $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.