Fairfax Financial (OTCMKTS:FRFHF) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1,694.44 and traded as low as $1,567.00. Fairfax Financial shares last traded at $1,575.62, with a volume of 16,520 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded Fairfax Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Scotiabank restated an “outperform” rating on shares of Fairfax Financial in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Fairfax Financial Stock Down 0.7%

The company has a market cap of $33.53 billion, a PE ratio of 7.71 and a beta of 0.53. The business has a 50-day simple moving average of $1,687.29 and a 200-day simple moving average of $1,721.20. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.46.

Fairfax Financial (OTCMKTS:FRFHF) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $31.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $36.17 by ($5.06). The business had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Fairfax Financial had a return on equity of 15.05% and a net margin of 14.16%. Equities research analysts anticipate that Fairfax Financial Holdings Ltd. will post 183.35 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.