Monday, November 29, 2021

First American Financial Corporation [FAF] Earnings Preview: Things to Think About

Earnings from First American Financial Corporation [FAF] are scheduled on April 22, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.


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FAF Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $1.34 per share on revenue of $1.79B. Taking a look at the future, the company is projected to report revenue of $1.74B at an earnings per share of $1.52 for the Jun 2021 quarter. The estimates represent year-over-year improvements of -3.80% in revenue and -5.02% in earnings per share for the company.

FAF Stock Earnings Forecast For The Current Year


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For the full financial year, First American Financial Corporation [NYSE:FAF] is forecasted to generate revenue of $7.09B. The figure is about $0.0 below what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $6.02 in 2021, which is $0.57 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 10.50% this year, -5.30% next year, and -3.10% annually over the next five years. With regard to sales, forecasts suggest an incline of 0.10% in current fiscal year and -3.80% over following year.

FAF Stock Price Performance

At the close of Wednesday’s session, First American Financial Corporation [NYSE:FAF] finished up 1.03% at $61.92. The stock’s highest single-day price was $62.015, and its lowest was $61.08. Its price rose 2.04% in the last five days. Since the beginning of the year, First American Financial Corporation’s shares are up nearly 19.93%. However, the share price is 0.23% below its one year high. The top price reached by the shares of the company was $62.01 on 04/21/21, while the 52-week low came on 03/05/21, when the shares were $48.69. In the past year, shares of the company have risen 54.34%. At 50 days, the moving average achieved is $56.52 while at 200 days, the moving average is $52.78. There were 0.94 million shares traded in the last session, up from 0.63 million in the previous session.

First American Financial Corporation [NYSE:FAF] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 10.03, First American Financial Corporation [FAF] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 13.67 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 0.95 PS value ratio is reported for the last one year of reported earnings. This is below the average return 1.21 for the industry, which means FAF offers an attractive investment opportunity than its competitors do.

FAF Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 61.92 level, and the violation of this level will cause a further drop to 61.33 level. At the upper end, 63.20 remains a key resistance. As the stock increases, it may find resistance at 62.61. In the 14-day chart, the Relative Strength Index standing at 74.90 suggests a technical overbought stance while the MACD standing at 1.51 indicates price will increase in the next trading period. Stochastic %K at 94.81% suggests selling the stock while Percent R indicator at 1.69% suggests bullish price movement.

How much is the short interest in First American Financial Corporation?

There have been a drop in short interest in the First American Financial Corporation Financial stock, with short interest up by 1.62 million shares to 1.36 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 2.98 million shares. This -119.12% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 3.67% of the overall float in the stock, while the stock’s days to cover moved to 2.52.

How do analysts view First American Financial Corporation?

In regard to the share price forecast for First American Financial Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $71.50 in the next twelve months, representing almost an 13.4% growth from its recent price of $61.92. Among First American Financial Corporation stock projections, $73.00 is the highest analyst target for the stock, while $65.00 is the lowest. Despite this, 5 analysts who share their consensus rating for FAF in 2021 agree that the stock is an Overweight. The latest rating change took place on 10/09/20, when Barclays Ratings launched coverage of the stock at “Overweight” and assigned a price target of $62.0.

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