Wall Street analysts forecast that First American Financial Corp (NYSE:FAF) will post sales of $1.47 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First American Financial’s earnings, with the lowest sales estimate coming in at $1.46 billion and the highest estimate coming in at $1.49 billion. First American Financial posted sales of $1.49 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.3%. The business is expected to announce its next earnings report before the market opens on Thursday, July 25th.
According to Zacks, analysts expect that First American Financial will report full year sales of $5.83 billion for the current financial year, with estimates ranging from $5.78 billion to $5.87 billion. For the next financial year, analysts anticipate that the business will report sales of $5.92 billion, with estimates ranging from $5.86 billion to $5.98 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for First American Financial.
First American Financial (NYSE:FAF) last released its earnings results on Thursday, April 25th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. First American Financial had a return on equity of 14.51% and a net margin of 8.83%. First American Financial’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share.
FAF has been the topic of a number of recent research reports. Compass Point downgraded Fidelity National Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $42.50 to $43.75 in a research report on Monday, April 29th. They noted that the move was a valuation call. Piper Jaffray Companies lowered their target price on CELYAD SA/ADR from $51.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, April 1st. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine downgraded Yara International ASA from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Finally, Susquehanna Bancshares set a $13.00 price target on SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. First American Financial presently has an average rating of “Buy” and an average target price of $63.38.
In other First American Financial news, insider Kenneth D. Degiorgio sold 1,400 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $58.24, for a total transaction of $81,536.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth D. Degiorgio sold 26,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.00, for a total value of $1,519,506.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,293 shares of company stock worth $3,519,235. Company insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of First American Financial by 9.4% during the fourth quarter. Bank of America Corp DE now owns 647,574 shares of the insurance provider’s stock worth $28,907,000 after acquiring an additional 55,668 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of First American Financial by 1,170.5% during the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 913 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of First American Financial by 24.5% during the fourth quarter. Two Sigma Advisers LP now owns 358,974 shares of the insurance provider’s stock worth $16,025,000 after acquiring an additional 70,746 shares during the period. Fulcrum Equity Management bought a new stake in shares of First American Financial during the fourth quarter worth approximately $258,000. Finally, Weaver Consulting Group bought a new stake in shares of First American Financial during the first quarter worth approximately $69,000. 83.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:FAF traded down $0.46 during midday trading on Friday, reaching $55.15. The company had a trading volume of 455,825 shares, compared to its average volume of 632,757. The company’s 50 day moving average is $53.89. The firm has a market capitalization of $6.18 billion, a PE ratio of 12.04, a PEG ratio of 1.06 and a beta of 0.91. First American Financial has a 1-year low of $41.96 and a 1-year high of $58.29.
First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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