Fidelity National Information Services, Inc. Expected to Post Q2 2024 Earnings of $1.23 Per Share (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – Equities research analysts at William Blair boosted their Q2 2024 earnings estimates for shares of Fidelity National Information Services in a report issued on Tuesday, May 7th. William Blair analyst C. Kennedy now anticipates that the information technology services provider will earn $1.23 per share for the quarter, up from their previous estimate of $1.20. William Blair has a “Outperform” rating on the stock. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.71 per share. William Blair also issued estimates for Fidelity National Information Services’ Q3 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.93 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.38 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $5.33 EPS.

Several other research analysts also recently commented on the stock. Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a report on Tuesday. Mizuho raised their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. BNP Paribas cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Thursday, April 11th. UBS Group raised their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fidelity National Information Services has an average rating of “Moderate Buy” and an average price target of $74.63.

Fidelity National Information Services Price Performance

FIS stock opened at $74.31 on Wednesday. The company has a market capitalization of $41.73 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The company’s fifty day moving average price is $70.79 and its 200-day moving average price is $62.91. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $1.29 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.

Fidelity National Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction on Monday, April 15th. The shares were acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC lifted its holdings in shares of Fidelity National Information Services by 332.1% in the 3rd 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 bought a new position in shares of Fidelity National Information Services during the 4th quarter worth $29,000. Rise Advisors LLC purchased a new position in shares of Fidelity National Information Services during the first quarter valued at $29,000. Finally, Delta Asset Management LLC TN raised its holdings in shares of Fidelity National Information Services by 600.0% in the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 450 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors.

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.