Brokers Offer Predictions for Fidelity National Information Services, Inc.’s Q2 2024 Earnings (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – Analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for Fidelity National Information Services in a research note issued to investors on Wednesday, June 19th. Zacks Research analyst R. Department now forecasts that the information technology services provider will post earnings per share of $1.23 for the quarter, up from their prior estimate of $1.22. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.96 per share. Zacks Research also issued estimates for Fidelity National Information Services’ FY2024 earnings at $4.91 EPS.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data 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. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm posted $1.29 EPS. Fidelity National Information Services’s revenue was up 2.9% on a year-over-year basis.

Several other research firms also recently commented on FIS. Mizuho upped their price objective on shares of Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Royal Bank of Canada boosted their price objective on Fidelity National Information Services from $82.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Bank of America raised 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. JPMorgan Chase & Co. boosted their price target on Fidelity National Information Services from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.32.

Fidelity National Information Services Trading Down 0.7 %

Shares of NYSE:FIS opened at $75.96 on Friday. 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 52-week low of $46.91 and a 52-week high of $78.73. The stock has a market cap of $42.25 billion, a price-to-earnings ratio of -7.43, a PEG ratio of 0.79 and a beta of 1.05. The business has a 50-day moving average price of $74.36 and a 200-day moving average price of $68.11.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback plan 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.90%. Fidelity National Information Services’s payout ratio is presently -14.08%.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The shares were acquired at an average price 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 $655,093.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale boosted its holdings in Fidelity National Information Services by 12.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 200,025 shares of the information technology services provider’s stock valued at $14,554,000 after purchasing an additional 21,794 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Fidelity National Information Services during the first quarter worth about $1,066,000. Garde Capital Inc. purchased a new stake in shares of Fidelity National Information Services during the first quarter worth approximately $114,000. Boston Partners raised its holdings in Fidelity National Information Services by 642.7% in the first quarter. Boston Partners now owns 4,470,605 shares of the information technology services provider’s stock valued at $331,047,000 after acquiring an additional 3,868,683 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Fidelity National Information Services by 8.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 364,474 shares of the information technology services provider’s stock worth $27,037,000 after acquiring an additional 28,903 shares during the last quarter. Hedge funds and other institutional investors own 96.23% 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.