Fairfax Financial (OTCMKTS:FRFHF) Shares Pass Above Fifty Day Moving Average – What’s Next?

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1,624.50 and traded as high as $1,647.99. Fairfax Financial shares last traded at $1,617.3199, with a volume of 8,965 shares traded.

Analyst Upgrades and Downgrades

FRFHF has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce began coverage on Fairfax Financial in a report on Friday, June 26th. They issued a “neutral” rating for the company. Zacks Research cut shares of Fairfax Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fairfax Financial in a research report on Friday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Fairfax Financial Stock Performance

The stock has a market cap of $35.11 billion, a PE ratio of 8.14 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.66 and a quick ratio of 3.66. The stock has a 50-day simple moving average of $1,624.92 and a 200-day simple moving average of $1,686.13.

Fairfax Financial (OTCMKTS:FRFHF) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $31.11 earnings per share for the quarter, missing the consensus estimate of $36.17 by ($5.06). Fairfax Financial had a net margin of 14.16% and a return on equity of 15.05%. The firm had revenue of $7.82 billion during the quarter, compared to analyst estimates of $8.62 billion. Equities analysts predict that Fairfax Financial Holdings Ltd. will post 184.47 earnings per share for the current fiscal year.

About Fairfax Financial

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.