Fidelity National Information Services (NYSE:FIS) Issues FY24 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $4.88-4.98 for the period, compared to the consensus EPS estimate of $4.72. The company issued revenue guidance of $10.10-10.15 billion, compared to the consensus revenue estimate of $10.13 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Susquehanna raised their price objective on Fidelity National Information Services from $81.00 to $86.00 and gave the stock a positive rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price objective on the stock. Evercore ISI raised their price objective on Fidelity National Information Services from $75.00 to $80.00 and gave the stock an in-line rating in a report on Tuesday. Royal Bank of Canada raised their price objective on Fidelity National Information Services from $75.00 to $82.00 and gave the stock an outperform rating in a report on Tuesday. Finally, Mizuho increased their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Eight 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 company’s stock. According to data from MarketBeat, Fidelity National Information Services currently has a consensus rating of Moderate Buy and a consensus target price of $76.79.

Fidelity National Information Services Stock Down 0.3 %

NYSE FIS traded down $0.26 during mid-day trading on Wednesday, reaching $74.05. 5,420,379 shares of the company’s stock traded hands, compared to its average volume of 4,481,281. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $75.71. The company has a fifty day simple moving average of $70.79 and a 200-day simple moving average of $62.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The company has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last issued 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. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates 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%. Fidelity National Information Services’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, equities research analysts expect 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. Stockholders of record on Monday, June 10th will be given a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.

About Fidelity National Information Services

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.