Wall Street analysts forecast that First American Financial Corp (NYSE:FAF) will post earnings of $1.14 per share for the current quarter, Zacks reports. Two analysts have provided estimates for First American Financial’s earnings. The highest EPS estimate is $1.14 and the lowest is $1.13. First American Financial reported earnings of $0.95 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The company is scheduled to issue its next earnings results on Thursday, February 14th.
On average, analysts expect that First American Financial will report full-year earnings of $4.45 per share for the current fiscal year, with EPS estimates ranging from $4.39 to $4.50. For the next financial year, analysts forecast that the business will report earnings of $4.57 per share, with EPS estimates ranging from $4.46 to $4.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow First American Financial.
First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. First American Financial had a return on equity of 13.68% and a net margin of 10.39%.
Several research firms have recently weighed in on FAF. Piper Jaffray Companies boosted their price objective on shares of First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. ValuEngine lowered shares of First American Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Keefe, Bruyette & Woods upgraded shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research note on Monday, July 16th. Finally, Zacks Investment Research lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.50.
In related news, insider Matthew F. Wajner sold 4,982 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $57.29, for a total value of $285,418.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kenneth D. Degiorgio sold 13,871 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $57.25, for a total transaction of $794,114.75. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in FAF. BlackRock Inc. grew its stake in First American Financial by 5.7% in the 2nd quarter. BlackRock Inc. now owns 10,865,847 shares of the insurance provider’s stock valued at $561,982,000 after buying an additional 586,268 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of First American Financial by 70.7% during the 1st quarter. Principal Financial Group Inc. now owns 966,832 shares of the insurance provider’s stock worth $56,733,000 after purchasing an additional 400,378 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of First American Financial by 791.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 440,727 shares of the insurance provider’s stock worth $22,794,000 after purchasing an additional 391,283 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of First American Financial by 23.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,031,575 shares of the insurance provider’s stock worth $105,073,000 after purchasing an additional 384,319 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of First American Financial by 28.2% during the 1st quarter. Allianz Asset Management GmbH now owns 1,586,631 shares of the insurance provider’s stock worth $93,104,000 after purchasing an additional 349,008 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
First American Financial stock opened at $44.93 on Friday. The stock has a market cap of $5.02 billion, a PE ratio of 16.34, a PEG ratio of 0.77 and a beta of 0.84. First American Financial has a fifty-two week low of $41.96 and a fifty-two week high of $62.71.
About First American Financial
First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.
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