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

Fidelity National Information Services (NYSE:FIS - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $5.15-$5.20 for the period, compared to the consensus EPS estimate of $5.15. The company issued revenue guidance of $10.14-$10.17 billion, compared to the consensus revenue estimate of $10.15 billion. Fidelity National Information Services also updated its FY 2024 guidance to 5.150-5.200 EPS.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS traded up $0.60 during midday trading on Monday, reaching $89.70. The company's stock had a trading volume of 6,372,439 shares, compared to its average volume of 3,749,093. The firm has a market capitalization of $48.94 billion, a PE ratio of 66.94, a P/E/G ratio of 0.79 and a beta of 1.06. The stock has a fifty day moving average of $85.46 and a 200 day moving average of $78.92. Fidelity National Information Services has a twelve month low of $49.91 and a twelve month high of $91.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.62.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.13. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Fidelity National Information Services will post 5.09 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, December 23rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services's payout ratio is currently 107.46%.

Wall Street Analysts Forecast Growth

FIS has been the topic of a number of recent analyst reports. Morgan Stanley lowered Fidelity National Information Services from an "overweight" rating to an "equal weight" rating and set a $79.00 price objective on the stock. in a report on Monday, July 22nd. UBS Group raised their price target 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, August 7th. Jefferies Financial Group boosted their price objective on Fidelity National Information Services from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Barclays lifted their price target on Fidelity National Information Services from $90.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on Fidelity National Information Services from $85.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.30.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 626 shares of the stock in a transaction on Tuesday, October 15th. The shares were bought at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the purchase, the director now owns 10,397 shares of the company's stock, valued at $917,535.25. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.