Fairfax Financial (TSE:FFH) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of Fairfax Financial Holdings Limited (TSE:FFH) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2,447.85 and traded as low as C$2,331.19. Fairfax Financial shares last traded at C$2,356.86, with a volume of 35,453 shares trading hands.

Wall Street Analysts Forecast Growth

FFH has been the subject of a number of analyst reports. National Bank Financial set a C$3,200.00 price target on shares of Fairfax Financial and gave the company an “outperform” rating in a research report on Wednesday, February 4th. BMO Capital Markets lowered Fairfax Financial from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from C$2,600.00 to C$2,500.00 in a research note on Thursday, January 22nd. Raymond James Financial dropped their price objective on Fairfax Financial from C$3,050.00 to C$2,900.00 in a report on Monday, November 10th. Royal Bank Of Canada set a C$2,200.00 target price on Fairfax Financial and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Scotiabank boosted their price target on Fairfax Financial from C$3,050.00 to C$3,150.00 in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fairfax Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$2,764.29.

Fairfax Financial Trading Up 1.7%

The company has a market cap of C$52.15 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.27 and a beta of 0.15. The company has a 50 day moving average price of C$2,447.85 and a 200-day moving average price of C$2,398.56.

Fairfax Financial (TSE:FFH) last released its quarterly earnings data on Thursday, November 6th. The company reported C$52.04 earnings per share for the quarter. The business had revenue of C$17.72 billion for the quarter. Fairfax Financial had a return on equity of 17.43% and a net margin of 13.90%. Equities analysts expect that Fairfax Financial Holdings Limited will post 212.3039807 earnings per share for the current year.

Fairfax Financial Company Profile

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.