Equities Analysts Offer Predictions for Fidelity National Information Services, Inc.’s Q3 2024 Earnings (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FISFree Report) – Investment analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for shares of Fidelity National Information Services in a research note issued on Friday, March 22nd. Zacks Research analyst K. Dey now forecasts that the information technology services provider will earn $1.07 per share for the quarter, up from their prior forecast of $1.06. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.66 per share. Zacks Research also issued estimates for Fidelity National Information Services’ FY2024 earnings at $4.04 EPS, Q1 2025 earnings at $0.95 EPS, Q3 2025 earnings at $1.15 EPS, FY2025 earnings at $4.36 EPS and FY2026 earnings at $5.71 EPS.

Several other analysts have also issued reports on the stock. Robert W. Baird lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. 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 target price on the stock. Royal Bank of Canada raised their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Finally, Truist Financial raised their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.73.

View Our Latest Analysis on Fidelity National Information Services

Fidelity National Information Services Trading Up 1.7 %

Shares of FIS opened at $72.30 on Monday. The firm has a market cap of $41.68 billion, a P/E ratio of -6.43, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $72.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50-day moving average of $65.20 and a 200 day moving average of $59.21.

Fidelity National Information Services (NYSE:FISGet Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.51 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 EPS.

Fidelity National Information Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Fidelity National Information Services declared that its Board of Directors has initiated a stock repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Fidelity National Information Services news, Director Ellen R. Alemany purchased 735 shares of Fidelity National Information Services stock in a transaction on 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 completion of the transaction, the director now directly owns 35,333 shares of the company’s stock, valued at $2,131,286.56. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC boosted its position in Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 372 shares during the period. EdgeRock Capital LLC bought a new stake in Fidelity National Information Services in the 4th quarter worth $29,000. Brown Brothers Harriman & Co. increased its position in shares of Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Finally, McCarthy Grittinger Financial Group LLC increased its holdings in Fidelity National Information Services by 101.1% during the 3rd quarter. McCarthy Grittinger Financial Group LLC now owns 573 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 96.23% 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.

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

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