$2.06 Billion in Sales Expected for Fidelity National Financial Inc (FNF) This Quarter
Wall Street analysts forecast that Fidelity National Financial Inc (NYSE:FNF) will post sales of $2.06 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fidelity National Financial’s earnings. The highest sales estimate is $2.09 billion and the lowest is $2.03 billion. Fidelity National Financial reported sales of $1.99 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is expected to announce its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Fidelity National Financial will report full-year sales of $7.89 billion for the current year, with estimates ranging from $7.83 billion to $7.95 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $8.17 billion, with estimates ranging from $8.11 billion to $8.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fidelity National Financial.
Fidelity National Financial (NYSE:FNF) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The firm had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis.
Shares of Fidelity National Financial stock traded down $0.13 on Friday, hitting $39.25. The stock had a trading volume of 43,830 shares, compared to its average volume of 825,871. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Fidelity National Financial has a one year low of $33.71 and a one year high of $42.52. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 17.35 and a beta of 0.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.06%. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
Fidelity National Financial announced that its board has initiated a share buyback plan on Tuesday, July 17th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, COO Roger S. Jewkes sold 42,025 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $39.52, for a total value of $1,660,828.00. Following the transaction, the chief operating officer now directly owns 201,762 shares of the company’s stock, valued at approximately $7,973,634.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Roger S. Jewkes sold 43,409 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $39.79, for a total value of $1,727,244.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,548 shares of company stock valued at $8,875,866. Corporate insiders own 6.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FNF. NumerixS Investment Technologies Inc purchased a new stake in shares of Fidelity National Financial during the 2nd quarter worth approximately $168,000. Csenge Advisory Group purchased a new stake in shares of Fidelity National Financial during the 1st quarter worth approximately $200,000. Zacks Investment Management purchased a new stake in shares of Fidelity National Financial during the 2nd quarter worth approximately $200,000. Capital One National Association purchased a new stake in shares of Fidelity National Financial during the 2nd quarter worth approximately $202,000. Finally, IBM Retirement Fund purchased a new stake in shares of Fidelity National Financial during the 1st quarter worth approximately $231,000. 82.45% of the stock is currently owned by institutional investors.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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