Fidelity National Information Services (FIS) Gains As Market Dips: What You Should Know
Fidelity National Information Services (FIS) closed at $62.32 in the latest trading session, marking a +0.91% move from the prior day. This change outpaced the S&P 500's 0.1% loss on the day. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.3%.
Heading into today, shares of the banking and payment technologies company had lost 0.05% over the past month, lagging the Business Services sector's gain of 7.93% and the S&P 500's gain of 5.78% in that time.
The investment community will be paying close attention to the earnings performance of Fidelity National Information Services in its upcoming release. The company is slated to reveal its earnings on February 26, 2024. The company is forecasted to report an EPS of $0.96, showcasing a 43.86% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.52 billion, reflecting a 32.04% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Fidelity National Information Services. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.83% higher. Currently, Fidelity National Information Services is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Fidelity National Information Services is holding a Forward P/E ratio of 14.2. This denotes a premium relative to the industry's average Forward P/E of 12.93.
Also, we should mention that FIS has a PEG ratio of 1.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Financial Transaction Services industry held an average PEG ratio of 1.13.
The Financial Transaction Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 106, this industry ranks in the top 43% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Fidelity National Information Services, Inc. (FIS) : Free Stock Analysis Report
