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

First American Financial

24/04/2024 23:45

* First American Financial Corp  FAF.N  reported quarterly
adjusted earnings of 45 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of 49 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 59 cents per
share. Wall Street expected results to range from 53 cents to 67
cents per share.
    * Revenue fell 1.5% to $1.42 billion from a year ago;
analysts
expected $1.43 billion. 
    * First American Financial Corp's reported EPS for the
quarter was
45 cents​.
    * The company reported quarterly net income of $46.7
million.
    * First American Financial Corp shares had fallen by 4.7%
this
quarter and lost 9.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 22.2%
in the last three months.​ 
    * In the last 30 days, five 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 $70.00 
This summary was machine generated from LSEG data April 24 at
10:44 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
 Mar. 31 2024      0.59           0.45           Missed
 Dec. 31 2023      0.77           0.69           Missed
 Sep. 30 2023      1.17           1.22           Beat
 Jun. 30 2023      1.02           1.35           Beat