Equities analysts forecast that Fidelity National Financial Inc (NYSE:FNF) will post $2.05 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Fidelity National Financial’s earnings, with the highest sales estimate coming in at $2.08 billion and the lowest estimate coming in at $2.03 billion. Fidelity National Financial reported sales of $1.99 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 24th.
On average, analysts expect that Fidelity National Financial will report full year sales of $7.88 billion for the current fiscal year, with estimates ranging from $7.83 billion to $7.93 billion. For the next year, analysts anticipate that the business will report sales of $8.16 billion, with estimates ranging from $8.11 billion to $8.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Fidelity National Financial.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The company had revenue of $2.12 million during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year.
A number of research firms recently issued reports on FNF. Zacks Investment Research raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Monday, July 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fidelity National Financial has a consensus rating of “Buy” and a consensus price target of $43.50.
Shares of NYSE FNF traded up $0.04 on Wednesday, reaching $35.05. 1,682,606 shares of the company traded hands, compared to its average volume of 1,285,057. Fidelity National Financial has a fifty-two week low of $34.00 and a fifty-two week high of $42.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $10.82 billion, a P/E ratio of 15.44 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Thursday, September 13th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 52.86%.
Fidelity National Financial declared that its board has approved a stock buyback plan on Tuesday, July 17th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Brent B. Bickett sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $40.68, for a total transaction of $2,034,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Roger S. Jewkes sold 43,409 shares of the company’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $39.79, for a total value of $1,727,244.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,548 shares of company stock valued at $8,875,866. Company insiders own 6.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of Fidelity National Financial by 3.0% during the first quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock valued at $681,736,000 after purchasing an additional 500,930 shares during the period. TPG Group Holdings SBS Advisors Inc. increased its holdings in shares of Fidelity National Financial by 22.0% during the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,985,032 shares of the financial services provider’s stock valued at $74,677,000 after purchasing an additional 357,654 shares during the period. Marshall Wace LLP acquired a new position in shares of Fidelity National Financial during the second quarter valued at $11,009,000. Canada Pension Plan Investment Board increased its holdings in shares of Fidelity National Financial by 53.9% during the second quarter. Canada Pension Plan Investment Board now owns 742,449 shares of the financial services provider’s stock valued at $27,931,000 after purchasing an additional 259,991 shares during the period. Finally, Andra AP fonden acquired a new position in shares of Fidelity National Financial during the second quarter valued at $7,848,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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