Brokers Offer Predictions for Fidelity National Information Services, Inc.’s Q2 2024 Earnings (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – William Blair upped their Q2 2024 earnings per share 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 prior forecast 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.

Other analysts also recently issued reports about the stock. Evercore ISI boosted their price target on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on Fidelity National Information Services from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price on the stock. Mizuho raised their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. 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. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.79.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS opened at $74.05 on Wednesday. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a P/E/G ratio of 0.88 and a beta of 0.98. The stock’s 50-day moving average is $70.79 and its 200 day moving average is $62.91. 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 1-year low of $46.91 and a 1-year high of $75.71.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS.

Fidelity National Information Services Announces Dividend

The company 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services announced that its board has initiated a share buyback plan on Monday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were purchased at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

A number of hedge funds have recently bought and sold shares of FIS. Manchester Capital Management LLC grew its stake in shares of Fidelity National Information Services by 6.8% in the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after acquiring an additional 143 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Fidelity National Information Services by 14.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock valued at $79,000 after buying an additional 166 shares during the period. CKW Financial Group boosted its stake in shares of Fidelity National Information Services by 10.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after buying an additional 200 shares during the last quarter. Penbrook Management LLC increased its position in Fidelity National Information Services by 5.1% during the first quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after acquiring an additional 200 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Fidelity National Information Services by 9.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

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.