KeyCorp Equities Analysts Increase Earnings Estimates for Fidelity National Information Services, Inc. (NYSE:FIS)

Posted by Defense World Staff on Apr 27th, 2023

Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) – Equities researchers at KeyCorp boosted their Q1 2023 EPS estimates for shares of Fidelity National Information Services in a note issued to investors on Sunday, April 23rd. KeyCorp analyst J. Beck now expects that the information technology services provider will post earnings of $1.25 per share for the quarter, up from their previous forecast of $1.23. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $5.87 per share. KeyCorp also issued estimates for Fidelity National Information Services’ Q2 2023 earnings at $1.51 EPS and FY2023 earnings at $5.94 EPS.

Fidelity National Information Services (NYSE:FIS – Get Rating) last announced its quarterly earnings data on Monday, February 13th. The information technology services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. Fidelity National Information Services had a negative net margin of 115.07% and a positive return on equity of 9.71%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.

A number of other analysts have also weighed in on the stock. Truist Financial reduced their price target on shares of Fidelity National Information Services from $65.00 to $56.00 in a research note on Thursday, March 16th. Stephens restated an “equal weight” rating and set a $80.00 price target on shares of Fidelity National Information Services in a report on Monday, February 13th. Barclays cut their price target on shares of Fidelity National Information Services from $68.00 to $58.00 in a report on Sunday, March 26th. Morgan Stanley upgraded shares of Fidelity National Information Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $73.00 to $79.00 in a report on Tuesday, February 14th. Finally, Citigroup lowered shares of Fidelity National Information Services from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.48.

Fidelity National Information Services Trading Down 0.8 %

Shares of NYSE:FIS opened at $54.84 on Wednesday. The company has a 50 day moving average of $57.70 and a 200-day moving average of $66.25. The firm has a market cap of $32.49 billion, a P/E ratio of -1.96, a P/E/G ratio of 0.91 and a beta of 0.82. Fidelity National Information Services has a twelve month low of $48.57 and a twelve month high of $106.65. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52.

Institutional Trading of Fidelity National Information Services

Several institutional investors have recently made changes to their positions in the business. Ronald Blue Trust Inc. grew its holdings in Fidelity National Information Services by 12.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,989 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 441 shares in the last quarter. Keybank National Association OH boosted its holdings in shares of Fidelity National Information Services by 7.7% in the 4th quarter. Keybank National Association OH now owns 6,619 shares of the information technology services provider’s stock worth $449,000 after purchasing an additional 472 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Fidelity National Information Services by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 10,834 shares of the information technology services provider’s stock worth $819,000 after purchasing an additional 210 shares during the period. AMG National Trust Bank bought a new stake in shares of Fidelity National Information Services during the 3rd quarter worth approximately $318,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Fidelity National Information Services by 750.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,449 shares of the information technology services provider’s stock worth $1,621,000 after acquiring an additional 18,926 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein acquired 958 shares of the stock in a transaction on Monday, April 17th. The stock was purchased at an average price of $57.24 per share, for a total transaction of $54,835.92. Following the completion of the transaction, the director now owns 5,404 shares of the company’s stock, valued at approximately $309,324.96. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jeffrey E. Stiefler bought 2,243 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average cost of $66.88 per share, with a total value of $150,011.84. Following the completion of the purchase, the director now owns 3,343 shares in the company, valued at approximately $223,579.84. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Goldstein acquired 958 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were acquired at an average cost of $57.24 per share, for a total transaction of $54,835.92. Following the completion of the transaction, the director now directly owns 5,404 shares of the company’s stock, valued at $309,324.96. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $2.08 dividend on an annualized basis and a yield of 3.79%. Fidelity National Information Services’s payout ratio is -7.37%.

Fidelity National Information Services Company Profile

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Fidelity National Information Services, Inc engages in the provision of technology solutions for financial institutions and businesses. It operates through the following segments: Banking, Merchant, Capital Markets, and Corporate and Other. The Banking segment focuses on serving financial institutions with core processing software, transaction processing software, and complementary applications and services.

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

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