First American Financial Corp (FAF) Expected to Announce Quarterly Sales of $1.57 Billion

Wall Street analysts forecast that First American Financial Corp (NYSE:FAF) will announce $1.57 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for First American Financial’s earnings. First American Financial posted sales of $1.52 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The company is scheduled to report its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that First American Financial will report full-year sales of $5.87 billion for the current financial year, with estimates ranging from $5.84 billion to $5.90 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.06 billion per share, with estimates ranging from $6.02 billion to $6.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow First American Financial.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, July 26th. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.13. First American Financial had a net margin of 8.19% and a return on equity of 15.03%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies raised their target price on shares of First American Financial from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, June 26th. Keefe, Bruyette & Woods upgraded shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a report on Monday, July 16th. Finally, ValuEngine lowered shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $57.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in First American Financial by 2.2% in the first quarter. BlackRock Inc. now owns 10,279,579 shares of the insurance provider’s stock valued at $603,207,000 after buying an additional 221,844 shares during the period. Victory Capital Management Inc. raised its holdings in First American Financial by 23.3% in the second quarter. Victory Capital Management Inc. now owns 2,031,575 shares of the insurance provider’s stock valued at $105,073,000 after buying an additional 384,319 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in First American Financial by 18.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,731,387 shares of the insurance provider’s stock valued at $101,597,000 after buying an additional 265,058 shares during the period. Allianz Asset Management GmbH raised its holdings in First American Financial by 28.2% in the first quarter. Allianz Asset Management GmbH now owns 1,586,631 shares of the insurance provider’s stock valued at $93,104,000 after buying an additional 349,008 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in First American Financial by 83.0% in the first quarter. JPMorgan Chase & Co. now owns 1,467,241 shares of the insurance provider’s stock valued at $86,098,000 after buying an additional 665,393 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

FAF opened at $56.67 on Friday. First American Financial has a 1 year low of $46.75 and a 1 year high of $62.71. The company has a market capitalization of $6.25 billion, a P/E ratio of 20.46, a P/E/G ratio of 0.95 and a beta of 0.81.

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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