$2.09 Billion in Sales Expected for Fidelity National Information Servcs Inc (FIS) This Quarter

Wall Street brokerages expect Fidelity National Information Servcs Inc (NYSE:FIS) to announce sales of $2.09 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Fidelity National Information Servcs’ earnings, with the highest sales estimate coming in at $2.10 billion and the lowest estimate coming in at $2.07 billion. Fidelity National Information Servcs reported sales of $2.20 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The firm is expected to report its next earnings report before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Fidelity National Information Servcs will report full-year sales of $8.50 billion for the current fiscal year, with estimates ranging from $8.45 billion to $8.53 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.76 billion, with estimates ranging from $8.65 billion to $8.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fidelity National Information Servcs.

Fidelity National Information Servcs (NYSE:FIS) last posted its quarterly earnings results on Tuesday, July 31st. The information technology services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Fidelity National Information Servcs had a return on equity of 15.42% and a net margin of 16.59%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS.

A number of equities analysts have recently weighed in on FIS shares. Zacks Investment Research raised Fidelity National Information Servcs from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Friday, August 3rd. SunTrust Banks upped their target price on Fidelity National Information Servcs to $125.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. They noted that the move was a valuation call. Wood & Company upped their target price on Fidelity National Information Servcs to $117.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. They noted that the move was a valuation call. ValuEngine lowered Fidelity National Information Servcs from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Wolfe Research started coverage on Fidelity National Information Servcs in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $115.54.

In related news, Director Stephan A. James sold 23,922 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $108.97, for a total value of $2,606,780.34. Following the completion of the sale, the director now directly owns 41,585 shares of the company’s stock, valued at approximately $4,531,517.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David K. Hunt sold 17,922 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $106.38, for a total value of $1,906,542.36. Following the completion of the sale, the director now directly owns 24,989 shares of the company’s stock, valued at $2,658,329.82. The disclosure for this sale can be found here. Insiders sold a total of 46,129 shares of company stock valued at $4,967,533 over the last three months. 2.08% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC purchased a new stake in shares of Fidelity National Information Servcs during the 2nd quarter valued at $114,000. Fort L.P. purchased a new stake in shares of Fidelity National Information Servcs during the 2nd quarter valued at $121,000. Advisors Asset Management Inc. increased its position in shares of Fidelity National Information Servcs by 588.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,208 shares of the information technology services provider’s stock valued at $133,000 after purchasing an additional 7,870 shares during the last quarter. Rational Advisors LLC increased its position in shares of Fidelity National Information Servcs by 1,676.5% during the 2nd quarter. Rational Advisors LLC now owns 1,439 shares of the information technology services provider’s stock valued at $153,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Cerebellum GP LLC increased its position in shares of Fidelity National Information Servcs by 133.6% during the 2nd quarter. Cerebellum GP LLC now owns 1,696 shares of the information technology services provider’s stock valued at $180,000 after purchasing an additional 970 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

Shares of Fidelity National Information Servcs stock traded up $1.21 on Friday, reaching $102.38. 2,660,602 shares of the company’s stock were exchanged, compared to its average volume of 1,566,030. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 1.38. Fidelity National Information Servcs has a 52 week low of $89.31 and a 52 week high of $110.83. The stock has a market capitalization of $35.86 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.74 and a beta of 0.93.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, September 13th. Fidelity National Information Servcs’s payout ratio is currently 28.96%.

About Fidelity National Information Servcs

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

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