Fidelity National Information Services (NYSE:FIS) Updates Q3 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.270-1.310 for the period, compared to the consensus earnings per share estimate of 1.260. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Fidelity National Information Services also updated its FY 2024 guidance to 5.030-5.110 EPS.

Fidelity National Information Services Stock Performance

NYSE:FIS traded up $1.16 during trading hours on Friday, reaching $77.59. The stock had a trading volume of 2,575,984 shares, compared to its average volume of 4,137,733. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day simple moving average of $75.79 and a 200 day simple moving average of $71.69. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $78.73. The stock has a market cap of $43.16 billion, a P/E ratio of -7.54, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that Fidelity National Information Services will post 4.94 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, September 10th. Fidelity National Information Services’s payout ratio is currently -14.08%.

Analyst Ratings Changes

A number of equities analysts have recently commented on FIS shares. Royal Bank of Canada raised their price target on Fidelity National Information Services from $93.00 to $95.00 and gave the stock an outperform rating in a report on Wednesday. Stephens reaffirmed an overweight rating and issued a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday, May 7th. William Blair reaffirmed an outperform rating on shares of Fidelity National Information Services in a report on Tuesday, May 7th. Mizuho lifted their price objective on Fidelity National Information Services from $76.00 to $85.00 and gave the company a buy rating in a research note on Thursday, May 9th. Finally, Evercore ISI lifted their price objective on Fidelity National Information Services from $75.00 to $80.00 and gave the company an in-line rating in a research note on Tuesday, May 7th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $80.45.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 719 shares of the stock in a transaction on Monday, July 15th. The stock was acquired at an average price of $76.81 per share, with a total value of $55,226.39. Following the transaction, the director now directly owns 9,771 shares of the company’s stock, valued at approximately $750,510.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.