Fairfax Financial (OTCMKTS:FRFHF) Shares Down 4.9% – Here’s What Happened

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) shares were down 4.9% during mid-day trading on Thursday . The stock traded as low as $1,588.8987 and last traded at $1,665.00. Approximately 8,857 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 11,539 shares. The stock had previously closed at $1,750.11.

Wall Street Analysts Forecast Growth

Several analysts have commented on FRFHF shares. Raymond James Financial reissued an “outperform” rating on shares of Fairfax Financial in a research report on Thursday, October 16th. BMO Capital Markets cut shares of Fairfax Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of Fairfax Financial in a research report on Wednesday, October 22nd. National Bankshares reissued an “outperform” rating on shares of Fairfax Financial in a research report on Monday, October 27th. Finally, Zacks Research upgraded Fairfax Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fairfax Financial presently has an average rating of “Moderate Buy”.

Fairfax Financial Price Performance

The stock has a 50 day moving average of $1,785.87 and a 200-day moving average of $1,745.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.77 and a current ratio of 2.77. The company has a market cap of $36.71 billion, a PE ratio of 8.11 and a beta of 0.59.

Fairfax Financial (OTCMKTS:FRFHF) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported $52.04 earnings per share for the quarter, beating analysts’ consensus estimates of $41.00 by $11.04. Fairfax Financial had a return on equity of 16.47% and a net margin of 15.01%.The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.57 billion. Equities analysts predict that Fairfax Financial Holdings Ltd. will post 166.85 earnings per share for the current year.

Fairfax Financial Company Profile

Fairfax Financial (OTCMKTS:FRFHF) is a Toronto-based financial holding company primarily engaged in property and casualty insurance, reinsurance and investment management. The company underwrites a broad range of commercial and personal insurance products, operates specialty and run-off reinsurance businesses, and manages a diversified investment portfolio largely funded by insurance float. Fairfax conducts its insurance operations through a network of subsidiaries and affiliated companies that provide local underwriting and claims services across multiple markets.

On the insurance side, Fairfax writes a mix of short-tail and long-tail coverages across specialty lines, commercial casualty, property and other niche markets, while its reinsurance activities include treaty and facultative solutions for cedants and intermediaries.