Fairfax Financial (OTCMKTS:FRFHF) Shares Gap Down – Here’s What Happened

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $1,937.45, but opened at $1,828.05. Fairfax Financial shares last traded at $1,874.46, with a volume of 53 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Fairfax Financial in a report on Friday, July 24th. BMO Capital Markets reissued a “market perform” rating on shares of Fairfax Financial in a research report on Friday, October 16th. Zacks Research upgraded shares of Fairfax Financial from a “strong sell” rating to a “hold” rating in a report on Thursday. Finally, ATB Cormark Capital Markets upgraded shares of Fairfax Financial from a “hold” rating to a “moderate buy” rating in a report on Wednesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Fairfax Financial Trading Down 1.3%

The firm has a market cap of $39.12 billion, a price-to-earnings ratio of 9.63 and a beta of 0.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 3.52. The business has a 50-day moving average of $1,665.51 and a 200-day moving average of $1,670.22.

Fairfax Financial (OTCMKTS:FRFHF) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $43.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $29.47 by $13.85. Fairfax Financial had a net margin of 12.94% and a return on equity of 13.77%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.42 billion. Research analysts anticipate that Fairfax Financial Holdings Ltd. will post 176.01 EPS for the current year.

About Fairfax Financial

Fairfax Financial Holdings Limited is a Canadian holding company focused primarily on property and casualty insurance and reinsurance. Through its subsidiaries and affiliates, it offers commercial and personal insurance, specialty coverage and reinsurance products.

Founded in 1985 by Prem Watsa, the company is headquartered in Toronto. Its insurance and reinsurance operations serve customers and businesses in Canada, the United States and international markets.

Fairfax also manages investments for its insurance businesses and other entities.