Title insurance company Fidelity National Financial (NYSE: FNF) will be reporting results this Thursday afternoon. Here’s what to expect.
Fidelity National Financial beat analysts’ revenue expectations last quarter, reporting revenues of $4.05 billion, up 11.4% year on year. It was a strong quarter for the company, with a beat 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 decline 6.2% year on year, a reversal from the 11.9% 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 Q3 results, giving us a hint as to what we can expect. Assurant delivered year-on-year revenue growth of 9.7%, beating analysts’ expectations by 2.4%, and Markel Group reported revenues up 5.7%, topping estimates by 10%. Markel Group traded up 1.2% following the results.
Read our full analysis of Assurant’s results here and Markel Group’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 6.9% on average over the last month. Fidelity National Financial is up 6% during the same time and is heading into earnings with an average analyst price target of $52.25 (compared to the current share price of $41.35).
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