Fidelity National Financial, Inc. – Momentum – Zacks Rank Buy
Source: http://www.zacks.com/commentary/10386/Fidelity+National+Financial%2C+Inc.+-+Momentum+-+Zacks+Rank+BuyPosted on Tuesday, March 24th, 2009 | In Stocks to Watch
Fidelity National Financial, Inc. (FNF) posted fourth-quarter results in January that were ahead of estimates and a big improvement from the same period last year.
Company Description
Fidelity National Financial, Inc. through its subsidiaries, provides title insurance, specialty insurance, claims management and information services in the United States. The company has a market cap of $4.21 billion.
| < ?DART(15);?> |
Fourth-Quarter Results
In spite of the fact the Fidelity National has suffered from the decline in the housing market, the company’s fourth-quarter results demonstrate that it is rebounding from its calamities.
Revenue was down 21% to $1.02 billion, but income jumped higher to a loss of $1.7 million from a loss of $44.9 million last year. Earnings came in at one penny, 3 cents ahead of the consensus estimate of a loss of 2 cents.
Strategic Acquisition
Fidelity National acquired divisions of LandAmerica Financial Group’s, a company that filed for bankruptcy protection in November, for $298 million in a deal that closed in December. Fidelity National has since slashed 1,500 jobs and closed 125 offices in order to cut costs.
Estimates Jump
After the solid quarter, analysts went ahead and boosted their estimates, with the current-year jumping a big 40 cents to $1.44 per share. The next-year estimate is pegged at $1.64, a 14% earnings growth projection.
The Chart
Shares of FNF have been rallying since bottoming out in late November at $6.75. Since then, this stock has crossed the $20 mark, currently pressuring this area as some short-term resistance has developed. Take a look below.
Last 5 posts by Michael Vodicka
- HealthSouth Corp. - Momentum - Zacks Rank Buy - November 6th, 2009
- One stock just hit a new 52-week while the other jumped more than 30% in one day, both on strong earnings results. - Charting Zacks Elite Stocks - November 6th, 2009
- DeVry, Inc. - Momentum - Zacks Rank Buy - November 5th, 2009
- Euronet Worldwide, Inc. - Momentum - Zacks Rank Buy - November 4th, 2009
- Carbo Ceramics Inc. - Momentum - Zacks Rank Buy - November 3rd, 2009
cent;, Claims Management, Fidelity National Financial Inc, LandAmerica Financial Group's;, pence, Stocks to Watch, title insurance;, United States, USD, Zacks Market Commentaries, Zacks Rank Buy Fidelity National Financial Inc.;
 About Michael Vodicka (http://www.zacks.com/)
Michael is an Editor at Zacks Investment Research who covers the Momentum and Aggressive Stocks for the Zacks Rank Buys. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.