Fairfax Financial (OTCMKTS:FRFHF) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FRFHF shares. Zacks Research downgraded Fairfax Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Canadian Imperial Bank of Commerce assumed coverage on Fairfax Financial in a research note on Friday, June 26th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Fairfax Financial Stock Down 0.5%

The business’s fifty day simple moving average is $1,623.38 and its two-hundred day simple moving average is $1,699.32. The company has a market cap of $35.32 billion, a PE ratio of 8.18 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 posted its earnings results on Thursday, April 30th. The financial services provider reported $31.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $36.17 by ($5.06). Fairfax Financial had a return on equity of 15.05% and a net margin of 14.16%.The firm had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.62 billion. On average, analysts predict that Fairfax Financial Holdings Ltd. will post 184.47 earnings per share for the current 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.