Fidelity National Information Services (NYSE:FIS) Updates Q3 2024 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.270-1.310 for the period, compared to the consensus earnings per share estimate of 1.260. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Fidelity National Information Services also updated its FY 2024 guidance to 5.030-5.110 EPS.

Fidelity National Information Services Trading Up 1.5 %

NYSE:FIS traded up $1.16 during mid-day trading on Friday, hitting $77.59. 2,575,984 shares of the stock traded hands, compared to its average volume of 4,137,733. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of -7.54, a PEG ratio of 0.77 and a beta of 1.06. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $78.73. The firm’s 50 day moving average is $75.79 and its two-hundred day moving average is $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 (NYSE:FIS) last released its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.13. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company earned $1.55 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Fidelity National Information Services will post 4.94 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.86%. Fidelity National Information Services’s payout ratio is -14.08%.

Analysts Set New Price Targets

FIS has been the topic of several recent analyst reports. William Blair reaffirmed an outperform rating on shares of Fidelity National Information Services in a report on Tuesday, May 7th. Wedbush reiterated an outperform rating and issued a $75.00 price target on shares of Fidelity National Information Services in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the stock an outperform rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Fidelity National Information Services from $93.00 to $95.00 and gave the stock an outperform rating in a report on Wednesday. Finally, UBS Group lifted their target price on shares of Fidelity National Information Services from $78.00 to $80.00 and gave the company a neutral rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $80.45.

Insider Activity

In related news, Director Jeffrey A. Goldstein purchased 719 shares of the stock in a transaction on Monday, July 15th. The shares were purchased at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the transaction, the director now directly owns 9,771 shares of the company’s stock, valued at approximately $750,510.51. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company 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.