Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF – Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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
Several equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce began coverage on Fairfax Financial in a research note on Friday, June 26th. They issued a “neutral” rating for the company. Zacks Research downgraded shares of Fairfax Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fairfax Financial presently has a consensus rating of “Hold”.
View Our Latest Report on FRFHF
Fairfax Financial Trading Down 0.4%
Fairfax Financial (OTCMKTS:FRFHF – Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $31.11 earnings per share for the quarter, missing analysts’ consensus estimates of $36.17 by ($5.06). Fairfax Financial had a return on equity of 15.05% and a net margin of 14.16%.The business had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.62 billion. On average, 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.
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