Brokerages Anticipate Fidelity National Financial Inc (FNF) Will Post Quarterly Sales of $2.09 Billion

Equities research analysts predict that Fidelity National Financial Inc (NYSE:FNF) will post sales of $2.09 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Fidelity National Financial’s earnings, with estimates ranging from $2.05 billion to $2.12 billion. Fidelity National Financial posted sales of $2.29 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, July 18th.

On average, analysts expect that Fidelity National Financial will report full year sales of $7.77 billion for the current year, with estimates ranging from $7.64 billion to $7.91 billion. For the next year, analysts anticipate that the business will post sales of $8.06 billion per share, with estimates ranging from $7.96 billion to $8.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fidelity National Financial.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Fidelity National Financial had a net margin of 8.66% and a return on equity of 13.04%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. ValuEngine lowered shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Fidelity National Financial has a consensus rating of “Hold” and a consensus price target of $43.83.

Fidelity National Financial traded up $0.06, reaching $38.21, during trading on Monday, according to Marketbeat Ratings. The company had a trading volume of 978,100 shares, compared to its average volume of 1,425,097. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.71 and a current ratio of 0.71. Fidelity National Financial has a 12 month low of $30.73 and a 12 month high of $42.52. The firm has a market cap of $10.38 billion, a P/E ratio of 16.77 and a beta of 0.84.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.27. Fidelity National Financial’s payout ratio is presently 52.86%.

In other news, insider Brent B. Bickett sold 63,155 shares of the business’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $39.10, for a total value of $2,469,360.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel D. Lane sold 18,810 shares of the business’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $41.38, for a total transaction of $778,357.80. Following the completion of the sale, the director now directly owns 261,696 shares in the company, valued at approximately $10,828,980.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,303 shares of company stock worth $4,427,622. Insiders own 6.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its position in shares of Fidelity National Financial by 6.3% in the first quarter. Xact Kapitalforvaltning AB now owns 51,845 shares of the financial services provider’s stock worth $2,075,000 after purchasing an additional 3,060 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Fidelity National Financial by 5.3% in the first quarter. Royal Bank of Canada now owns 105,840 shares of the financial services provider’s stock worth $4,235,000 after purchasing an additional 5,333 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Fidelity National Financial by 1.2% in the first quarter. Legal & General Group Plc now owns 1,511,563 shares of the financial services provider’s stock worth $60,499,000 after purchasing an additional 18,640 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Fidelity National Financial by 40.7% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 86,700 shares of the financial services provider’s stock worth $3,470,000 after purchasing an additional 25,100 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Fidelity National Financial by 281.2% in the first quarter. Assetmark Inc. now owns 152,585 shares of the financial services provider’s stock worth $6,106,000 after purchasing an additional 112,562 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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Earnings History and Estimates for Fidelity National Financial (NYSE:FNF)

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