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

Fidelity National Information Services (NYSE:FIS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.030-5.110 for the period, compared to the consensus earnings per share estimate of 4.960. 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 $5.03-5.11 EPS.

Fidelity National Information Services Trading Up 1.5 %

Shares of FIS traded up $1.16 during trading on Friday, reaching $77.59. 2,575,984 shares of the company traded hands, compared to its average volume of 4,137,733. The stock has a 50-day simple moving average of $75.79 and a 200-day simple moving average of $71.69. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $78.73. The stock has a market cap of $43.16 billion, a PE 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. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 EPS. On average, analysts anticipate that Fidelity National Information Services will post 4.94 earnings per share for the current year.

Fidelity National Information Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.86%. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -14.08%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FIS shares. BNP Paribas downgraded Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 target price for the company. in a report on Thursday, April 11th. Susquehanna raised their price objective on Fidelity National Information Services from $86.00 to $88.00 and gave the company a positive rating in a research note on Wednesday. Morgan Stanley cut Fidelity National Information Services from an overweight rating to an equal weight rating and set a $79.00 price target for the company. in a report on Monday, July 22nd. Bank of America raised their price objective 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. Finally, UBS Group boosted their price objective on shares of Fidelity National Information Services from $78.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $80.45.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein purchased 719 shares of Fidelity National Information Services stock in a transaction dated Monday, July 15th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the purchase, the director now owns 9,771 shares in the company, valued at approximately $750,510.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% 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.