First American Financial (NYSE:FAF) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

First American Financial (NYSE:FAF) posted its quarterly earnings data on Thursday. The insurance provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22), Briefing.com reports. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. First American Financial had a return on equity of 8.18% and a net margin of 3.64%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share.

First American Financial Stock Performance

NYSE:FAF traded down $0.05 during midday trading on Friday, reaching $54.22. 851,775 shares of the stock traded hands, compared to its average volume of 660,268. The business has a 50-day moving average of $57.50 and a two-hundred day moving average of $58.27. First American Financial has a 12-month low of $49.55 and a 12-month high of $65.54. The stock has a market capitalization of $5.62 billion, a PE ratio of 25.94 and a beta of 1.28.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were paid a $0.53 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.12 annualized dividend and a yield of 3.91%. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

Analysts Set New Price Targets

A number of analysts have weighed in on FAF shares. TheStreet lowered First American Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 12th. Stephens reiterated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First American Financial in a research note on Wednesday, January 10th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $69.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.75.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.