Fairfax Financial (OTCMKTS:FRFHF) Shares Gap Up on Analyst Upgrade

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) gapped up prior to trading on Thursday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. The stock had previously closed at $1,769.11, but opened at $1,979.99. Fairfax Financial shares last traded at $1,962.00, with a volume of 409 shares changing hands.

Several other research analysts have also recently weighed in on FRFHF. Zacks Research cut Fairfax Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Scotiabank reiterated an “outperform” rating on shares of Fairfax Financial in a research report on Friday, July 24th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Fairfax Financial in a research note on Friday, October 16th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fairfax Financial presently has a consensus rating of “Hold”.

Fairfax Financial Stock Down 0.5%

The firm’s fifty day moving average is $1,654.12 and its 200-day moving average is $1,668.52. The company has a market capitalization of $40.86 billion, a P/E ratio of 10.06 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.60 and a current ratio of 3.60.

Fairfax Financial (OTCMKTS:FRFHF) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $43.32 earnings per share for the quarter, beating the consensus estimate of $29.47 by $13.85. Fairfax Financial had a return on equity of 13.90% and a net margin of 12.94%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.42 billion. As a group, equities research analysts predict that Fairfax Financial Holdings Ltd. will post 154.87 EPS for the current year.

Fairfax Financial Company Profile

Fairfax Financial Holdings Limited is a Toronto-based holding company engaged primarily in property and casualty insurance and reinsurance. Through its operating subsidiaries, the company provides commercial and personal insurance products, specialty coverage, and reinsurance solutions to businesses, institutions, and individuals.

Fairfax’s insurance operations include companies such as Odyssey Group, Allied World, Brit, Northbridge Insurance, Crum & Forster, and Zenith. Its businesses serve customers across Canada, the United States, Europe, and other international markets.