Title insurance company Fidelity National Financial (NYSE: FNF) will be reporting earnings this Wednesday after market hours. Here’s what investors should know.
Fidelity National Financial beat analysts’ revenue expectations last quarter, reporting revenues of $4.05 billion, up 11.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Fidelity National Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Fidelity National Financial’s revenue to grow 32.4% year on year, a reversal from the 17.3% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fidelity National Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Fidelity National Financial’s peers in the property & casualty insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Stewart Information Services delivered year-on-year revenue growth of 27.7%, beating analysts’ expectations by 4.7%, and First American Financial reported revenues up 16.2%, topping estimates by 2.4%. Stewart Information Services traded up 3.9% following the results while First American Financial was also up 3.5%.
Read our full analysis of Stewart Information Services’s results here and First American Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Fidelity National Financial is up 9.7% during the same time and is heading into earnings with an average analyst price target of $64.60 (compared to the current share price of $51.10).
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