First American Financial Corp reports results for the quarter ended in June - Earnings Summary

First American Financial

24/07/2024 22:56

* First American Financial Corp  FAF.N  reported quarterly
adjusted earnings of $1.27​​ per share for the quarter ended in
June, lower than the same quarter last year, when the company
reported EPS of $1.35.  The mean expectation of seven analysts
for the quarter was for earnings of $1.16 per share. Wall Street
expected results to range from $1.07  to $1.23 per share.
    * Revenue fell 2.1% to $1.61 billion from a year ago;
analysts
expected $1.62 billion. 
    * First American Financial Corp's reported EPS for the
quarter was
$1.11​.
    * The company reported quarterly net income of $116 million.
    * First American Financial Corp shares had risen by 7.8%
this
quarter and lost 9.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.8%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for First American
Financial Corp is $63.00 
This summary was machine generated from LSEG data July 24 at
09:56 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.16           1.27           Beat
 Mar. 31 2024      0.59           0.45           Missed
 Dec. 31 2023      0.77           0.69           Missed
 Sep. 30 2023      1.17           1.22           Beat