In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Fidelity National Info (FIS), with a price target of $118. The company’s shares opened today at $106.80.
Greene noted:
“FIS reported mixed 4Q18 results/guidance with ~3% Y/Y (vs. our <5% estimate) organic/CC revenue growth and EPS of $1.60 (vs. our/Street's $1.59/1.58 estimates); reflects ~$0.11 (vs. our estimate) tax benefit. IFS growth was in line at 2.5% (vs. our 3% est.) while GFS missed expectations by ~300bps. More optimistically, management suggests sales activity remained robust through year-end, and expects modest growth acceleration in CY19. FIS continues to see healthy bank spending and related backlog growth (up $~1B Y/Y). CY19 guidance missed our/Street expectations by $0.10/$0.05, and anticipates ~4% organic CC revenue growth and mid-point EPS (under prior EPS definition) of $5.70, or 9% (<LT guide) EPS growth. FIS remains attractive at ~17x our FY20E EPS, and accordingly we maintain our Outperform rating."
According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.9% and a 79.6% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Black Knight Inc.
Fidelity National Info has an analyst consensus of Moderate Buy, with a price target consensus of $125.
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Based on Fidelity National Info’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.08 billion and net profit of $154 million. In comparison, last year the company earned revenue of $2.33 billion and had a net profit of $988 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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Fidelity National Information Services, Inc. is a financial services technology company, which focuses on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting and outsourcing solutions.
