Zacks: Brokerages Anticipate Fidelity National Financial Inc (FNF) to Post $0.80 EPS

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Brokerages expect Fidelity National Financial Inc (NYSE:FNF) to announce $0.80 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Fidelity National Financial’s earnings. Fidelity National Financial posted earnings per share of $0.71 in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The company is expected to announce its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Fidelity National Financial will report full-year earnings of $2.82 per share for the current year, with EPS estimates ranging from $2.79 to $2.83. For the next year, analysts expect that the company will post earnings of $3.07 per share, with EPS estimates ranging from $2.95 to $3.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Fidelity National Financial.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Fidelity National Financial had a return on equity of 15.29% and a net margin of 9.82%. The business had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis.

A number of research firms recently commented on FNF. Zacks Investment Research raised Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Monday, August 6th. Keefe, Bruyette & Woods raised Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Fidelity National Financial presently has an average rating of “Buy” and an average price target of $43.50.

In related news, COO Roger S. Jewkes sold 42,025 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $39.52, for a total transaction of $1,660,828.00. Following the sale, the chief operating officer now owns 201,762 shares of the company’s stock, valued at $7,973,634.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Cary H. Thompson sold 85,639 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $40.10, for a total value of $3,434,123.90. Following the sale, the director now directly owns 74,000 shares in the company, valued at approximately $2,967,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,548 shares of company stock worth $8,875,866. Corporate insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FNF. SG Americas Securities LLC boosted its stake in Fidelity National Financial by 226.9% in the 1st quarter. SG Americas Securities LLC now owns 27,769 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 19,275 shares during the last quarter. Prudential Financial Inc. boosted its stake in Fidelity National Financial by 14.2% in the 1st quarter. Prudential Financial Inc. now owns 299,001 shares of the financial services provider’s stock worth $11,966,000 after buying an additional 37,170 shares during the last quarter. Aperio Group LLC boosted its stake in Fidelity National Financial by 23.3% in the 1st quarter. Aperio Group LLC now owns 167,831 shares of the financial services provider’s stock worth $6,717,000 after buying an additional 31,765 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Fidelity National Financial by 7.4% in the 1st quarter. Teacher Retirement System of Texas now owns 76,152 shares of the financial services provider’s stock worth $3,048,000 after buying an additional 5,267 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Fidelity National Financial by 85.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,623 shares of the financial services provider’s stock worth $974,000 after buying an additional 11,373 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of FNF traded up $0.25 during trading hours on Friday, reaching $39.35. 1,506,900 shares of the company traded hands, compared to its average volume of 1,282,836. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $10.79 billion, a P/E ratio of 17.33 and a beta of 0.80. Fidelity National Financial has a fifty-two week low of $33.91 and a fifty-two week high of $42.52.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, September 13th. Fidelity National Financial’s payout ratio is currently 52.86%.

Fidelity National Financial announced that its board has approved a share repurchase plan on Tuesday, July 17th that authorizes the company to buyback 25,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Fidelity National Financial

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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Earnings History and Estimates for Fidelity National Financial (NYSE:FNF)

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