Barclays analyst Mark Devries maintained a Buy rating on First American Financial Corporation (FAF) today and set a price target of $58. The company’s shares opened today at $52.03.
Devries observed:
“We’ve moderated our pre-tax title margin estimates for 2019 and 2020 (flat in 2019 and up ~40bps in 2020), as a result of softer purchase order expectations, but acknowledge that there could be upside if the purchase market returns to growth. We’ll keep a careful watch as we get closer to the spring selling season to see how purchase trends shape up. FAF has repurchase authorization in toolkit: FAF repurchased ~500k shares through the first week of January (most done in 4Q), and while they are not buying any shares in February, the company has $162mm remaining in its repurchase authorization they can opportunistically use.”
According to TipRanks.com, Devries is a 3-star analyst with an average return of 1.2% and a 61.4% success rate. Devries covers the Financial sector, focusing on stocks such as Discover Financial Services, Fidelity National Financial, and Oxford Square Capital Corp.
First American Financial Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $58.
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Based on First American Financial Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $151 million. In comparison, last year the company had a net profit of $221 million.
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First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance.
