Fidelity National Information Services, Inc. Expected to Earn Q1 2024 Earnings of $0.86 Per Share (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FISFree Report) – Zacks Research boosted their Q1 2024 EPS estimates for shares of Fidelity National Information Services in a note issued to investors on Monday, March 18th. Zacks Research analyst K. Dey now expects that the information technology services provider will post earnings of $0.86 per share for the quarter, up from their prior forecast of $0.84. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.71 per share. Zacks Research also issued estimates for Fidelity National Information Services’ Q2 2024 earnings at $0.98 EPS, Q3 2024 earnings at $1.06 EPS, Q4 2024 earnings at $1.12 EPS, FY2024 earnings at $4.02 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.19 EPS, FY2025 earnings at $4.35 EPS and FY2026 earnings at $5.70 EPS.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 price objective for the company. Morgan Stanley lifted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Truist Financial lifted their price objective on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. UBS Group lifted their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Read Our Latest Stock Analysis on FIS

Fidelity National Information Services Trading Up 0.8 %

Fidelity National Information Services stock opened at $69.85 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $70.52. The firm has a 50 day moving average of $64.47 and a 200 day moving average of $58.77. The firm has a market capitalization of $40.27 billion, a price-to-earnings ratio of -6.21, a P/E/G ratio of 0.86 and a beta of 0.97.

Fidelity National Information Services (NYSE:FISGet Free Report) last released its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. Fidelity National Information Services’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 EPS.

Fidelity National Information Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services announced that its board has initiated a stock repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Fidelity National Information Services

In other news, Director Ellen R. Alemany acquired 735 shares of Fidelity National Information Services stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average cost of $60.32 per share, for a total transaction of $44,335.20. Following the acquisition, the director now owns 35,333 shares of the company’s stock, valued at $2,131,286.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Several hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its stake in Fidelity National Information Services by 332.1% during the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after buying an additional 372 shares during the period. EdgeRock Capital LLC purchased a new stake in Fidelity National Information Services during the fourth quarter worth approximately $29,000. Brown Brothers Harriman & Co. lifted its position in shares of Fidelity National Information Services by 83.3% during the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Finally, McCarthy Grittinger Financial Group LLC lifted its position in shares of Fidelity National Information Services by 101.1% during the third quarter. McCarthy Grittinger Financial Group LLC now owns 573 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

About Fidelity National Information Services

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Fidelity National Information Services (NYSE:FIS)

Receive News & Ratings for Fidelity National Information Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Information Services and related companies with MarketBeat.com's FREE daily email newsletter.