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Fidelity National Information Services, Inc. (FIS), headquartered in Jacksonville, Florida, is a global leader in financial technology solutions. With a market cap of $50.02 billion, FIS provides a comprehensive suite of banking, payment processing, and capital markets technology tailored to meet the evolving needs of businesses and financial institutions worldwide. The company is set to release its Q3 earnings on Tuesday, Nov. 5.
Ahead of the event, analysts expect FIS to report a profit of $1.29 per share, up 37.2% from $0.94 in the year-ago quarter. In the last four quarters, the company surpassed Wall Street’s EPS estimates in two while missing on two other occasions.
Its adjusted earnings of $1.36 per share for the last quarter surpassed the consensus estimate by 10.6%. FIS' earnings beat was driven by cost management and operational efficiencies.
For fiscal 2024, analysts expect FIS to report EPS of $5.09, up 51% from $3.37 in fiscal 2023.
FIS stock is up 51.4% on a YTD basis, significantly outperforming the broader S&P 500 Index's ($SPX) 23% gains and the Global X FinTech ETF’s (FINX) 16% returns over the same time frame.
On Aug. 6, FIS shares closed up more than 5% after reporting its Q2 results. The company’s revenue was $2.49 billion, meeting Wall Street forecasts. FIS raised its full-year outlook and expects revenue to be between $10.12 billion and $10.17 billion.
The consensus opinion on FIS stock is moderately bullish, with an overall “Moderate Buy” rating. Of the 29 analysts covering the stock, 13 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and 14 indicate a “Hold.” The average analyst price target for FIS is $87.38, which indicates that the stock trades at a premium.
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.
