Title insurance company Fidelity National Financial (NYSE: FNF) will be announcing earnings results this Wednesday afternoon. Here’s what to look for.
Fidelity National Financial missed analysts’ revenue expectations last quarter, reporting revenues of $3.23 billion, up 18.2% year on year. It was a disappointing 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 5.3% year on year, slowing from the 15.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. First American Financial delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 3.4%, and CNA Financial reported revenues up 1.9%, topping estimates by 1.2%. First American Financial traded down 2.2% following the results.
Read our full analysis of First American Financial’s results here and CNA Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Fidelity National Financial is up 7.3% during the same time and is heading into earnings with an average analyst price target of $61.40 (compared to the current share price of $52.26).
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