Wall Street brokerages expect First American Co. (NYSE:FAF) to post $1.47 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for First American’s earnings. The highest sales estimate is $1.48 billion and the lowest is $1.45 billion. First American posted sales of $1.45 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that First American will report full-year sales of $5.84 billion for the current year. For the next year, analysts expect that the business will report sales of $6.06 billion per share, with estimates ranging from $6.02 billion to $6.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow First American.
First American (NYSE:FAF) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. First American had a net margin of 7.67% and a return on equity of 14.28%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $0.52 EPS. First American’s quarterly revenue was down 1.5% compared to the same quarter last year.
Several research firms recently issued reports on FAF. Zacks Investment Research lowered shares of First American from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Barclays reduced their price objective on shares of First American from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, ValuEngine lowered shares of First American from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.00.
FAF stock opened at $54.54 on Friday. First American has a 1 year low of $42.62 and a 1 year high of $62.71. The firm has a market capitalization of $6.08 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, June 7th. First American’s payout ratio is presently 55.27%.
In related news, COO Christopher Michael Leavell sold 27,714 shares of First American stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $51.35, for a total value of $1,423,113.90. Following the completion of the sale, the chief operating officer now owns 168,919 shares of the company’s stock, valued at approximately $8,673,990.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its holdings in First American by 1.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 90,673 shares of the insurance provider’s stock worth $5,081,000 after acquiring an additional 911 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in First American by 6.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,541 shares of the insurance provider’s stock worth $870,000 after acquiring an additional 918 shares during the period. Commonwealth Equity Services LLC raised its holdings in First American by 11.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,909 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 927 shares during the period. King Luther Capital Management Corp raised its holdings in First American by 21.1% in the 1st quarter. King Luther Capital Management Corp now owns 5,538 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 965 shares during the period. Finally, California State Teachers Retirement System raised its holdings in First American by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 183,680 shares of the insurance provider’s stock worth $10,293,000 after acquiring an additional 985 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.
About First American
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First American Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American and related companies with MarketBeat.com's FREE daily email newsletter.