First American Financial Corp (NYSE:FAF) Expected to Post Earnings of $1.35 Per Share

Brokerages expect First American Financial Corp (NYSE:FAF) to announce $1.35 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First American Financial’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $1.33. First American Financial posted earnings of $1.33 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The business is scheduled to issue its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that First American Financial will report full-year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.60 to $4.81. For the next fiscal year, analysts forecast that the company will report earnings of $4.96 per share, with EPS estimates ranging from $4.75 to $5.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow First American Financial.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. First American Financial had a return on equity of 14.51% and a net margin of 8.83%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, April 16th. Susquehanna Bancshares assumed coverage on First American Financial in a research note on Wednesday, June 19th. They set a “positive” rating and a $73.00 price objective on the stock. ValuEngine raised First American Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Compass Point cut First American Financial from a “buy” rating to a “neutral” rating and set a $57.88 price objective on the stock. in a research note on Monday, April 29th. Finally, Piper Jaffray Companies raised First American Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $67.00 in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. First American Financial presently has a consensus rating of “Buy” and a consensus target price of $59.31.

In other First American Financial news, COO Christopher Michael Leavell sold 35,235 shares of First American Financial stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $54.44, for a total transaction of $1,918,193.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kenneth D. Degiorgio sold 26,658 shares of First American Financial stock in a transaction that occurred on Wednesday, May 1st. The shares were 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. Insiders sold 63,293 shares of company stock worth $3,519,235 over the last three months. 3.00% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of FAF. Lunia Capital LP lifted its holdings in shares of First American Financial by 2,384.2% during the fourth quarter. Lunia Capital LP now owns 6,088,762 shares of the insurance provider’s stock valued at $6,089,000 after purchasing an additional 5,843,667 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of First American Financial by 4,404.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,973,445 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 1,929,636 shares during the last quarter. FMR LLC lifted its holdings in shares of First American Financial by 19.3% during the fourth quarter. FMR LLC now owns 9,135,859 shares of the insurance provider’s stock valued at $407,825,000 after purchasing an additional 1,477,309 shares during the last quarter. Norges Bank purchased a new position in shares of First American Financial during the fourth quarter valued at approximately $63,323,000. Finally, First Trust Advisors LP lifted its holdings in shares of First American Financial by 166.4% during the fourth quarter. First Trust Advisors LP now owns 859,392 shares of the insurance provider’s stock valued at $38,363,000 after purchasing an additional 536,765 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FAF traded down $1.88 on Wednesday, reaching $53.24. 25,555 shares of the company traded hands, compared to its average volume of 862,624. The business has a 50-day simple moving average of $54.01. First American Financial has a 52 week low of $41.96 and a 52 week high of $58.29. The stock has a market capitalization of $6.17 billion, a PE ratio of 11.62, a P/E/G ratio of 1.06 and a beta of 0.93.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.42 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. First American Financial’s payout ratio is presently 36.68%.

About First American Financial

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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Earnings History and Estimates for First American Financial (NYSE:FAF)

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