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 guidance of $1.21-1.25 for the period, compared to the consensus earnings per share 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 Stock Down 0.4 %

Shares of FIS traded down $0.27 during mid-day trading on Monday, hitting $70.45. 5,184,105 shares of the company traded hands, compared to its average volume of 4,411,686. The business has a 50 day moving average of $70.56 and a 200 day moving average of $62.60. The company has a market capitalization of $39.56 billion, a PE ratio of -6.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $74.75.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business posted $1.71 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Fidelity National Information Services will post 4.71 EPS 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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is -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 shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Fidelity National Information Services from $62.00 to $75.00 and gave the stock an in-line rating in a research note on Tuesday, April 30th. BNP Paribas lowered Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price objective for the company. in a research note on Thursday, April 11th. Royal Bank of Canada upped their target price on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an outperform rating in a research note on Tuesday, February 27th. Bank of America lifted their price target on 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. Finally, Truist Financial raised 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 note on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $72.50.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction on Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available at 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.