First American Financial Corp (NYSE:FAF) Expected to Announce Earnings of $1.41 Per Share

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Brokerages forecast that First American Financial Corp (NYSE:FAF) will report earnings per share (EPS) of $1.41 for the current quarter, Zacks reports. Two analysts have issued estimates for First American Financial’s earnings, with the lowest EPS estimate coming in at $1.35 and the highest estimate coming in at $1.46. First American Financial posted earnings per share of $1.27 in the same quarter last year, which indicates a positive year over year growth rate of 11%. The company is expected to issue its next quarterly earnings results on Thursday, February 13th.

According to Zacks, analysts expect that First American Financial will report full year earnings of $5.38 per share for the current financial year, with EPS estimates ranging from $5.31 to $5.45. For the next fiscal year, analysts forecast that the company will post earnings of $5.23 per share, with EPS estimates ranging from $5.08 to $5.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover First American Financial.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 15.21% and a net margin of 9.76%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share.

Several research firms have issued reports on FAF. Barclays set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research lowered First American Financial from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Tuesday, September 24th. ValuEngine upgraded First American Financial from a “strong sell” rating to a “sell” rating in a research note on Monday. Piper Jaffray Companies set a $68.00 price objective on First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Compass Point set a $60.00 target price on First American Financial and gave the stock a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.40.

In other news, CFO Mark Edward Seaton sold 8,069 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $61.93, for a total transaction of $499,713.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of First American Financial by 4.2% during the third quarter. Parallel Advisors LLC now owns 4,019 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 163 shares during the period. LS Investment Advisors LLC increased its stake in First American Financial by 3.2% during the 3rd quarter. LS Investment Advisors LLC now owns 5,677 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 178 shares during the period. Treasurer of the State of North Carolina increased its stake in First American Financial by 0.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 55,373 shares of the insurance provider’s stock worth $2,974,000 after acquiring an additional 190 shares during the period. Signaturefd LLC increased its stake in First American Financial by 22.5% during the 2nd quarter. Signaturefd LLC now owns 1,136 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 209 shares during the period. Finally, Texas Permanent School Fund increased its stake in First American Financial by 0.3% during the 3rd quarter. Texas Permanent School Fund now owns 76,299 shares of the insurance provider’s stock worth $4,502,000 after acquiring an additional 220 shares during the period. Institutional investors own 83.04% of the company’s stock.

NYSE:FAF traded up $0.45 on Friday, hitting $62.74. The company’s stock had a trading volume of 389,076 shares, compared to its average volume of 620,105. The stock has a fifty day moving average of $60.10 and a two-hundred day moving average of $56.90. The firm has a market capitalization of $6.96 billion, a P/E ratio of 13.70 and a beta of 0.87. First American Financial has a one year low of $42.53 and a one year high of $63.02.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, December 6th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.68%. First American Financial’s dividend payout ratio (DPR) is currently 36.68%.

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

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