Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF – Get Free Report)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1,699.32 and traded as low as $1,650.00. Fairfax Financial shares last traded at $1,655.98, with a volume of 8,838 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on FRFHF. Canadian Imperial Bank of Commerce assumed coverage on shares of Fairfax Financial in a research note on Friday, June 26th. They issued a “neutral” rating on the stock. Zacks Research cut shares of Fairfax Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.
View Our Latest Stock Report on Fairfax Financial
Fairfax Financial Trading Down 0.5%
Fairfax Financial (OTCMKTS:FRFHF – Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $31.11 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.62 billion. As a group, equities research analysts anticipate 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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