First American Financial (NYSE:FAF) Announces Earnings Results, Misses Estimates By $0.07 EPS

First American Financial (NYSE:FAF) released its earnings results on Wednesday. The insurance provider reported $1.78 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.07), FiscalAI reports. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. First American Financial had a net margin of 9.05% and a return on equity of 13.32%. During the same quarter in the previous year, the company earned $1.84 earnings per share.

First American Financial Stock Performance

Shares of NYSE FAF opened at $65.01 on Friday. First American Financial has a 52-week low of $56.20 and a 52-week high of $79.87. The business has a fifty day moving average of $68.62 and a two-hundred day moving average of $68.79. The stock has a market cap of $6.64 billion, a PE ratio of 9.00, a PEG ratio of 0.62 and a beta of 1.24.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, September 28th. First American Financial’s dividend payout ratio is currently 33.80%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FAF. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a research note on Friday, October 16th. Barclays reissued an “overweight” rating and set a $75.00 price objective on shares of First American Financial in a report on Friday. Benchmark assumed coverage on First American Financial in a research report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price objective on the stock. Truist Financial reduced their target price on First American Financial from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, First American Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.