Equities research analysts forecast that First American Financial Corp (NYSE:FAF) will report $1.28 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for First American Financial’s earnings. The highest sales estimate is $1.31 billion and the lowest is $1.25 billion. First American Financial posted sales of $1.30 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, April 25th.
On average, analysts expect that First American Financial will report full year sales of $5.82 billion for the current fiscal year, with estimates ranging from $5.71 billion to $5.93 billion. For the next financial year, analysts forecast that the company will report sales of $5.96 billion, with estimates ranging from $5.84 billion to $6.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow First American Financial.
First American Financial (NYSE:FAF) last posted its quarterly earnings results on Thursday, February 14th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.14 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.46 billion. First American Financial had a return on equity of 14.87% and a net margin of 8.26%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS.
Several equities analysts 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 for the company in a report on Tuesday. ValuEngine raised First American Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Barclays set a $58.00 price objective on First American Financial and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, Piper Jaffray Companies raised First American Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $59.00 to $67.00 in a report on Monday, April 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.60.
FAF stock traded down $0.05 during midday trading on Friday, hitting $55.55. 417,842 shares of the stock were exchanged, compared to its average volume of 552,801. The stock has a market cap of $6.19 billion, a PE ratio of 12.13, a P/E/G ratio of 1.07 and a beta of 0.85. First American Financial has a fifty-two week low of $41.96 and a fifty-two week high of $57.88.
In other First American Financial news, EVP Kenneth D. Degiorgio sold 5,204 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $51.53, for a total transaction of $268,162.12. Following the completion of the transaction, the executive vice president now owns 504,942 shares of the company’s stock, valued at $26,019,661.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth D. Degiorgio sold 7,052 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $51.07, for a total value of $360,145.64. Following the transaction, the executive vice president now directly owns 448,026 shares of the company’s stock, valued at approximately $22,880,687.82. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. JOYN Advisors Inc. increased its position in First American Financial by 540.0% during the fourth quarter. JOYN Advisors Inc. now owns 608 shares of the insurance provider’s stock worth $27,000 after buying an additional 513 shares in the last quarter. Advisors Preferred LLC purchased a new position in First American Financial during the fourth quarter worth $30,000. Legacy Financial Advisors Inc. purchased a new position in First American Financial during the fourth quarter worth $31,000. Executive Wealth Management LLC purchased a new position in First American Financial during the fourth quarter worth $37,000. Finally, IMS Capital Management purchased a new position in First American Financial during the third quarter worth $52,000. 84.97% of the stock is owned by institutional investors.
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.
Featured Article: Gross Domestic Product (GDP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.