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

Fidelity National Information Services (NYSE:FIS) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.21-1.25 for the period, compared to the consensus 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 Price Performance

Shares of FIS stock traded down $0.12 during trading hours on Thursday, hitting $73.93. 1,024,668 shares of the company’s stock were exchanged, compared to its average volume of 4,440,941. The company has a market capitalization of $41.51 billion, a PE ratio of -7.24, a PEG 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 has a 12-month low of $46.91 and a 12-month high of $75.71. The business’s 50 day simple moving average is $70.79 and its 200-day simple moving average is $62.91.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS 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 the consensus estimate 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%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. On average, equities research analysts anticipate that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services Announces Dividend

The firm also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -14.08%.

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

Wall Street Analysts Forecast Growth

FIS has been the subject of a number of research reports. Morgan Stanley increased their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. TD Cowen raised their price objective on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the company a hold rating in a research note on Wednesday. Stephens reiterated an overweight rating and issued a $90.00 target price on shares of Fidelity National Information Services in a research note on Tuesday. 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. Finally, Robert W. Baird upped their price objective on Fidelity National Information Services from $78.00 to $82.00 and gave the company a neutral rating in a research report on Tuesday. 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 stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $78.11.

Insider Activity at Fidelity National Information Services

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 stock was bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now 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 can be accessed through this link. 0.68% of the stock is currently owned by corporate insiders.

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.