Fairfax Financial (OTCMKTS:FRFHF) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF)’s stock price passed 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 trading hands.

Wall Street Analyst Weigh In

FRFHF has been the subject of a number of research reports. Zacks Research cut shares of Fairfax Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Canadian Imperial Bank of Commerce initiated coverage on shares of Fairfax Financial in a research report on Friday, June 26th. They set a “neutral” rating for the company. Three research 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.com, the stock currently has an average rating of “Hold”.

Fairfax Financial Stock Down 0.4%

The firm has a 50-day simple moving average of $1,624.50 and a 200 day simple moving average of $1,688.11. The stock has a market capitalization of $34.50 billion, a P/E ratio of 7.99 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.

Fairfax Financial (OTCMKTS:FRFHF) last released its quarterly earnings results 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). The firm had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.62 billion. Fairfax Financial had a return on equity of 15.05% and a net margin of 14.16%. On average, equities research analysts forecast that Fairfax Financial Holdings Ltd. will post 184.47 EPS 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.