Zacks: Brokerages Anticipate Fidelity National Information Servcs Inc (FIS) Will Post Quarterly Sales of $2.37 Billion

Brokerages expect Fidelity National Information Servcs Inc (NYSE:FIS) to post $2.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Fidelity National Information Servcs’ earnings. The highest sales estimate is $2.43 billion and the lowest is $2.35 billion. Fidelity National Information Servcs reported sales of $2.45 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.3%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, February 6th.

According to Zacks, analysts expect that Fidelity National Information Servcs will report full-year sales of $2.37 billion for the current financial year, with estimates ranging from $9.15 billion to $9.26 billion. For the next year, analysts expect that the company will post sales of $9.21 billion per share, with estimates ranging from $9.04 billion to $9.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Fidelity National Information Servcs.

Fidelity National Information Servcs (NYSE:FIS) last posted its quarterly earnings results on Tuesday, October 31st. The information technology services provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Fidelity National Information Servcs had a net margin of 5.82% and a return on equity of 14.05%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis.

FIS has been the subject of several research reports. Zacks Investment Research raised shares of Fidelity National Information Servcs from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Tuesday, October 3rd. JPMorgan Chase & Co. decreased their price target on shares of Fidelity National Information Servcs from $106.00 to $103.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $108.00 price target (up from $100.00) on shares of Fidelity National Information Servcs in a report on Wednesday, November 1st. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $108.00 price target on shares of Fidelity National Information Servcs in a report on Sunday, November 12th. Finally, Barclays reaffirmed a “buy” rating and issued a $115.00 price target on shares of Fidelity National Information Servcs in a report on Friday, January 5th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.53.

Fidelity National Information Servcs (NYSE FIS) traded up $0.93 during midday trading on Monday, hitting $98.47. 1,627,000 shares of the stock traded hands, compared to its average volume of 1,489,515. Fidelity National Information Servcs has a 1-year low of $75.52 and a 1-year high of $98.59. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $32,876.03, a price-to-earnings ratio of 60.78, a PEG ratio of 1.69 and a beta of 0.88.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, December 14th. Fidelity National Information Servcs’s payout ratio is 71.60%.

In other news, Director David K. Hunt sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $94.53, for a total value of $1,607,010.00. Following the completion of the sale, the director now directly owns 19,154 shares of the company’s stock, valued at approximately $1,810,627.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephan A. James sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $94.87, for a total transaction of $341,532.00. Following the completion of the sale, the director now directly owns 29,498 shares of the company’s stock, valued at $2,798,475.26. The disclosure for this sale can be found here. Insiders have sold a total of 87,633 shares of company stock valued at $8,146,090 over the last three months. 2.66% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Andra AP fonden lifted its stake in shares of Fidelity National Information Servcs by 2.3% in the 3rd quarter. Andra AP fonden now owns 160,000 shares of the information technology services provider’s stock worth $14,942,000 after acquiring an additional 3,600 shares during the period. Synovus Financial Corp acquired a new stake in shares of Fidelity National Information Servcs in the 3rd quarter worth approximately $279,000. IFM Investors Pty Ltd acquired a new stake in shares of Fidelity National Information Servcs in the 3rd quarter worth approximately $869,000. Comerica Bank lifted its stake in shares of Fidelity National Information Servcs by 23.1% in the 3rd quarter. Comerica Bank now owns 108,519 shares of the information technology services provider’s stock worth $10,425,000 after acquiring an additional 20,389 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Fidelity National Information Servcs by 10.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,034 shares of the information technology services provider’s stock worth $2,525,000 after acquiring an additional 2,474 shares during the period. 87.74% of the stock is owned by institutional investors.

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Fidelity National Information Servcs Company Profile

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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

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