Zacks: Brokerages Anticipate First American Financial Corp (FAF) Will Announce Earnings of $1.14 Per Share

Wall Street analysts forecast that First American Financial Corp (NYSE:FAF) will post $1.14 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for First American Financial’s earnings, with the lowest EPS estimate coming in at $1.13 and the highest estimate coming in at $1.14. First American Financial posted earnings of $0.95 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The business is scheduled to announce its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that First American Financial will report full-year earnings of $4.39 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $4.52 per share, with EPS estimates ranging from $4.46 to $4.55. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover First American Financial.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.02). First American Financial had a net margin of 10.39% and a return on equity of 13.68%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion.

FAF has been the subject of a number of recent analyst reports. Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine cut First American Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. First American Financial currently has an average rating of “Hold” and an average price target of $57.50.

FAF stock traded up $0.09 during midday trading on Friday, reaching $48.33. 969,241 shares of the company’s stock traded hands, compared to its average volume of 712,855. First American Financial has a 1-year low of $41.96 and a 1-year high of $62.71. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.98 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 10th will be paid a $0.42 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.68 annualized dividend and a dividend yield of 3.48%. First American Financial’s dividend payout ratio (DPR) is currently 61.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FAF. TLP Group LLC bought a new position in shares of First American Financial in the 3rd quarter worth $164,000. Parallel Advisors LLC boosted its position in shares of First American Financial by 139.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,498 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 2,040 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of First American Financial in the 2nd quarter worth $265,000. Point72 Hong Kong Ltd bought a new position in shares of First American Financial in the 3rd quarter worth $295,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of First American Financial in the 3rd quarter worth $304,000. 82.58% of the stock is owned by institutional investors.

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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