富达国家金融公司(Fidelity National Financial，Inc.)刚刚超过了预期的收益：以下是分析师认为接下来会发生的事情

A week ago, Fidelity National Financial, Inc. (NYSE:FNF) came out with a strong set of first-quarter numbers that could potentially lead to a re-rate of the stock. It was overall a positive result, with revenues beating expectations by 9.4% to hit US$3.2b. Fidelity National Financial reported statutory earnings per share (EPS) US$1.40, which was a notable 13% above what the analysts had forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

View our latest analysis for Fidelity National Financial

Taking into account the latest results, the current consensus, from the four analysts covering Fidelity National Financial, is for revenues of US$12.8b in 2022, which would reflect a definite 18% reduction in Fidelity National Financial's sales over the past 12 months. Statutory earnings per share are expected to plunge 29% to US$6.14 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$12.7b and earnings per share (EPS) of US$5.97 in 2022. So the consensus seems to have become somewhat more optimistic on Fidelity National Financial's earnings potential following these results.

The consensus price target was unchanged at US$63.80, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Fidelity National Financial at US$73.00 per share, while the most bearish prices it at US$59.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 24% by the end of 2022. This indicates a significant reduction from annual growth of 17% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 4.4% per year. It's pretty clear that Fidelity National Financial's revenues are expected to perform substantially worse than the wider industry.

The Bottom Line

The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Fidelity National Financial's earnings potential next year. On the plus side, there were no major changes to revenue estimates; although forecasts imply revenues will perform worse than the wider industry. The consensus price target held steady at US$63.80, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn't be too quick to come to a conclusion on Fidelity National Financial. Long-term earnings power is much more important than next year's profits. We have forecasts for Fidelity National Financial going out to 2023, and you can see them free on our platform here.

However, before you get too enthused, we've discovered 3 warning signs for Fidelity National Financial (1 shouldn't be ignored!) that you should be aware of.

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