Fidelity National Information Services (NYSE:FIS) Releases FY 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.880-4.980 for the period, compared to the consensus earnings per share estimate of 4.710. The company issued revenue guidance of $10.1 billion-$10.2 billion, compared to the consensus revenue estimate of $10.1 billion. Fidelity National Information Services also updated its FY24 guidance to $4.88-4.98 EPS.

Fidelity National Information Services Stock Down 0.4 %

Shares of FIS traded down $0.27 during midday trading on Monday, reaching $70.45. 5,184,105 shares of the stock were exchanged, compared to its average volume of 4,411,686. The company has a market cap of $39.56 billion, a price-to-earnings ratio of -6.28, a P/E/G 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 12-month low of $46.91 and a 12-month high of $74.75. The firm has a 50 day simple moving average of $70.56 and a 200-day simple moving average of $62.60.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. Fidelity National Information Services’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 EPS. Research analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is presently -12.81%.

Fidelity National Information Services declared that its board has authorized a stock buyback plan on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FIS has been the topic of a number of analyst reports. TheStreet raised Fidelity National Information Services from a d rating to a c rating in a report on Monday, February 26th. Morgan Stanley lifted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Bank of America upped their price objective on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Royal Bank of Canada lifted 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 report on Tuesday, February 27th. Finally, UBS Group upped their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $72.50.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now 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 accessible through this link. 0.68% of the stock is currently owned by corporate 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.