Fidelity National Information Services (NYSE:FIS) Updates 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

Shares of Fidelity National Information Services stock traded down $0.26 during trading on Wednesday, hitting $74.05. 5,420,379 shares of the company’s stock were exchanged, compared to its average volume of 4,481,281. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50-day simple moving average of $70.79 and a 200-day simple moving average of $62.91. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $75.71. The stock has a market capitalization of $41.58 billion, a price-to-earnings ratio of -6.59, 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 analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BNP Paribas cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price objective for the company. in a report on Thursday, April 11th. Mizuho lifted their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Bank of America lifted their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a research report on Tuesday, April 16th. UBS Group lifted their target price 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, Royal Bank of Canada lifted their target price on shares of Fidelity National Information Services from $75.00 to $82.00 and gave the company an outperform rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Fidelity National Information Services has an average rating of Moderate Buy and an average target price of $76.79.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by company 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.