Fidelity National Information Services (NYSE:FIS) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Fidelity National Information Services (NYSE:FIS) announced its quarterly earnings data on Monday. The information technology services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14, RTT News reports. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company earned $1.29 EPS. Fidelity National Information Services’s revenue for the quarter was up 2.9% on a year-over-year basis.

Fidelity National Information Services Stock Up 1.0 %

FIS stock opened at $71.40 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $40.09 billion, a PE ratio of -6.35, a P/E/G ratio of 0.88 and a beta of 0.98. The stock’s 50 day moving average is $70.64 and its 200-day moving average is $62.74. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $74.75.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.02%. Fidelity National Information Services’s dividend payout ratio is presently -12.81%.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by company insiders.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Bank of America upped their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Robert W. Baird upped their target price on Fidelity National Information Services from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI upped their target price on Fidelity National Information Services from $62.00 to $75.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada upped their target price on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.75.

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.