Fairfax Financial (OTCMKTS:FRFHF) Announces Quarterly Earnings Results

Fairfax Financial (OTCMKTS:FRFHF) announced its quarterly earnings data on Thursday. The financial services provider reported $63.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $85.41 by ($22.03), Zacks reports. Fairfax Financial had a net margin of 14.16% and a return on equity of 15.05%.

Fairfax Financial Price Performance

Shares of FRFHF traded down $26.59 during trading hours on Thursday, reaching $1,687.41. The company had a trading volume of 10,373 shares, compared to its average volume of 9,722. The firm has a 50 day simple moving average of $1,632.13 and a 200-day simple moving average of $1,681.68. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $35.99 billion, a price-to-earnings ratio of 8.34 and a beta of 0.49. Fairfax Financial has a 12-month low of $1,500.00 and a 12-month high of $1,949.00.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FRFHF shares. Canadian Imperial Bank of Commerce assumed coverage on shares of Fairfax Financial in a report on Friday, June 26th. They issued a “neutral” rating on the stock. Zacks Research downgraded 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 report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Fairfax Financial currently has a consensus rating of “Hold”.

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.