First American Financial Reports Earnings
First American Financial (NYSE: FAF) announced its quarterly earnings on July 24th. They reported an EPS of $1.27, surpassing the expected $1.13. Revenue was $1.61 billion, slightly below the estimate of $1.62 billion. The company’s revenue decreased by 2.1% compared to last year, and last year’s EPS was $1.35. Analysts forecast EPS of $4 for this fiscal year and $5 for the next.
Stock Performance
Shares opened at $66.59, with a 50-day moving average of $63.86 and a 200-day average of $58.74. The stock has fluctuated between a low of $49.55 and a high of $67.88 over the last year. It has a market cap of $6.91 billion and a price-to-earnings ratio of 31.86.
Dividend Increase
First American Financial recently raised its quarterly dividend to $0.54 per share, up from $0.53. This results in an annualized dividend of $2.16, with a yield of 3.24% and a payout ratio of 103.35%.
Analyst Ratings
Brokerages have set new price targets for FAF. Barclays raised their target from $61 to $70, while Truist Financial increased theirs from $65 to $68. Other firms, including Stephens and Keefe, Bruyette & Woods, have also given positive ratings with targets ranging from $66 to $72. Currently, the average rating is “Moderate Buy” with a target of $69.
View Our Latest Stock Analysis on FAF
About First American Financial
First American Financial Corporation provides financial services, focusing on Title Insurance and Services and Home Warranty segments, offering title insurance policies for properties and related services.
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