First American Financial Corp (FAF) Expected to Post Quarterly Sales of $1.28 Billion

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Equities analysts expect First American Financial Corp (NYSE:FAF) to announce sales of $1.28 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for First American Financial’s earnings, with the lowest sales estimate coming in at $1.25 billion and the highest estimate coming in at $1.31 billion. First American Financial reported sales of $1.30 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The business is scheduled to announce its next earnings report before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that First American Financial will report full-year sales of $5.82 billion for the current year, with estimates ranging from $5.71 billion to $5.93 billion. For the next year, analysts expect that the business will report sales of $5.96 billion, with estimates ranging from $5.84 billion to $6.08 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First American Financial.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, February 14th. The insurance provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.13. First American Financial had a net margin of 8.26% and a return on equity of 14.87%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $1.96 earnings per share. First American Financial’s revenue was down 4.3% compared to the same quarter last year.

FAF has been the topic of several analyst reports. Zacks Investment Research upgraded shares of First American Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Compass Point initiated coverage on shares of First American Financial in a report on Thursday, January 24th. They issued a “buy” rating and a $58.00 target price on the stock. Barclays set a $58.00 target price on shares of First American Financial and gave the stock a “buy” rating in a report on Friday, February 15th. ValuEngine upgraded shares of First American Financial from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Finally, Piper Jaffray Companies upgraded shares of First American Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $67.00 in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.60.

FAF traded down $0.23 during mid-day trading on Friday, hitting $55.49. The stock had a trading volume of 8,577 shares, compared to its average volume of 575,023. The firm has a market cap of $6.22 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.07 and a beta of 0.85. First American Financial has a 1-year low of $41.96 and a 1-year high of $57.88.

In other news, EVP Kenneth D. Degiorgio sold 7,052 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $51.07, for a total transaction of $360,145.64. Following the completion of the sale, the executive vice president now owns 448,026 shares of the company’s stock, valued at $22,880,687.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth D. Degiorgio sold 5,204 shares of the 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 sale, the executive vice president now directly owns 504,942 shares of the company’s stock, valued at approximately $26,019,661.26. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new position in First American Financial in the first quarter valued at $639,000. Louisiana State Employees Retirement System grew its holdings in shares of First American Financial by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,900 shares of the insurance provider’s stock valued at $1,540,000 after purchasing an additional 200 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of First American Financial by 39.3% during the 1st quarter. First Citizens Bank & Trust Co. now owns 9,676 shares of the insurance provider’s stock valued at $498,000 after purchasing an additional 2,730 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of First American Financial by 86.7% during the 1st quarter. State of Alaska Department of Revenue now owns 21,510 shares of the insurance provider’s stock valued at $1,107,000 after purchasing an additional 9,986 shares during the last quarter. Finally, Bank of Edwardsville bought a new stake in shares of First American Financial during the 1st quarter valued at approximately $357,000. 84.97% 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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