/Fidelity%20National%20Information%20Services%2C%20Inc_%20website%20on%20phone-by%20IgorGolovniov%20via%20Shutterstock.jpg)
Based in Jacksonville, Florida, Fidelity National Information Services, Inc. (FIS) is a leader in financial technology solutions, renowned for its comprehensive suite of services, including payment processing, banking software, and capital markets solutions. With a market cap of $41.77 billion, FIS is recognized for its innovation, technological excellence, and commitment to enhancing the financial services industry. FIS is scheduled to announce its fiscal Q2 earnings results before the market opens on Tuesday, Aug. 6.
Ahead of the event, analysts expect FIS to report a profit of $1.23 per share, down 20.7% from $1.55 in the year-ago quarter. In the last four quarters, the company has surpassed or matched Wall Street’s bottom-line estimates in two and missed on other two occasions.
Fidelity National Information Services' adjusted earnings of $1.10 per share for the last quarter surpassed the consensus estimate by 14.6%. Robust cost management contributed to the quarterly performance.
For fiscal 2024, analysts expect FIS to report EPS of $4.94, up 46.6% from $3.37 in fiscal 2023.
FIS stock is up 25% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 16.5% gains and the Global X FinTech ETF’s (FINX) 3% returns over the same time frame.
Fidelity National reported Q1 results on May 6. Revenue of $2.47 billion exceeded the forecasted $2.45 billion. The company anticipates revenue between $10.1 billion and $10.15 billion for the full year. The stock declined marginally on the day it released earnings but gained 5.5% the following day.
The consensus opinion on FIS stock is optimistic, with an overall “Moderate Buy” rating. Out of 28 analysts covering the stock, 12 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and 14 suggest a “Hold.”
This configuration is less bullish than three months ago when the stock had 14 “Strong Buy” ratings. FIS' average analyst price target is $81.46, indicating a potential upside of 8.5% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
