Fidelity National Information Services (NYSE:FIS) Issues Q2 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS - Get Free Report) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 1.210-1.250 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of $2.5 billion-$2.5 billion, compared to the consensus revenue estimate of $2.5 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a report on Tuesday, April 16th. Royal Bank of Canada boosted their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. 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 note on Thursday, April 11th. Finally, UBS Group boosted their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a research note on Tuesday, February 27th. Eight investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $72.50.

Fidelity National Information Services Stock Up 1.0 %

Shares of FIS stock traded up $0.68 during trading on Monday, reaching $71.40. The company's stock had a trading volume of 5,203,888 shares, compared to its average volume of 4,411,910. The business has a fifty day moving average price of $70.64 and a 200-day moving average price of $62.74. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.09 billion, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 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 business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm earned $1.71 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate 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 declared 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. This represents a $1.44 annualized dividend and a yield of 2.02%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services's dividend payout ratio (DPR) is currently -12.81%.

Fidelity National Information Services declared that its Board of Directors has authorized a stock buyback plan on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the company's stock in a transaction dated Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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.