Barclays Cuts Fidelity National Financial (NYSE:FNF) Price Target to $50.00

Key Points

• Barclays lowered Fidelity National Financial’s price target to $50 from $54 while keeping an equal weight rating, implying only modest upside from the current share price.
• The stock was down 1.8% and opened at $49.66; other analysts were mixed, with recent target cuts and rating downgrades leaving the consensus at Moderate Buy and an average target of $55.67.
• FNF recently missed earnings expectations for the quarter, reporting $0.93 EPS versus the $1.09 estimate and $3.23 billion in revenue versus $3.61 billion expected, despite year-over-year revenue growth of 18.2%.

Fidelity National Financial (NYSE:FNF - Get Free Report) had its target price reduced by stock analysts at Barclays from $54.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would indicate a potential upside of 0.69% from the stock's current price.

Other equities analysts have also issued reports about the stock. National Bank Financial set a $50.00 price objective on shares of Fidelity National Financial in a research report on Monday. Wall Street Zen lowered shares of Fidelity National Financial from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Weiss Ratings downgraded Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Fidelity National Financial from $71.00 to $67.00 and set an "outperform" rating for the company in a report on Friday, April 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.67.

Fidelity National Financial Trading Down 1.8%

NYSE:FNF opened at $49.66 on Monday. Fidelity National Financial has a 12 month low of $42.78 and a 12 month high of $61.40. The company has a current ratio of 44.42, a quick ratio of 0.24 and a debt-to-equity ratio of 0.61. The firm's 50 day moving average is $48.61 and its 200 day moving average is $53.38. The stock has a market capitalization of $13.37 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.00.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a return on equity of 16.15% and a net margin of 5.10%.The firm had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business's quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts expect that Fidelity National Financial will post 5.77 earnings per share for the current year.

Institutional Trading of Fidelity National Financial

Several institutional investors and hedge funds have recently bought and sold shares of FNF. Quent Capital LLC purchased a new position in Fidelity National Financial during the third quarter valued at $26,000. Canton Hathaway LLC bought a new stake in Fidelity National Financial during the 4th quarter valued at about $26,000. Commonwealth Retirement Investments LLC purchased a new position in Fidelity National Financial in the fourth quarter worth about $28,000. Atlantic Union Bankshares Corp lifted its stake in shares of Fidelity National Financial by 997.7% in the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider's stock worth $29,000 after buying an additional 429 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Fidelity National Financial during the second quarter valued at approximately $32,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Financial Company Profile

Fidelity National Financial NYSE: FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.

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