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

Fidelity National Information Services (NYSE:FIS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.88-4.98 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

FIS has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective 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. William Blair reissued an outperform rating on shares of Fidelity National Information Services in a research report on Tuesday. Evercore ISI raised their target price on Fidelity National Information Services from $75.00 to $80.00 and gave the company an in-line rating in a report on Tuesday. Robert W. Baird lifted their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a neutral rating in a research note on Tuesday. Finally, Bank of America lifted their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $74.63.

Fidelity National Information Services Stock Performance

FIS traded up $3.24 during trading on Tuesday, reaching $73.69. 5,457,305 shares of the company were exchanged, compared to its average volume of 4,421,767. 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 stock has a market cap of $41.38 billion, a P/E ratio of -6.58, a PEG ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The firm has a 50 day moving average of $70.64 and a 200 day moving average of $62.74.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations 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%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. On average, sell-side analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders 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 dividend on an annualized basis and a yield of 1.95%. Fidelity National Information Services’s dividend payout ratio (DPR) is -12.81%.

Fidelity National Information Services announced that its board has approved a share buyback program on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the acquisition, the director now directly 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 available at the SEC website. 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.