Fairfax Financial (OTCMKTS:FRFHF) Stock Price Down 4.9% – Here’s What Happened

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) shares dropped 4.9% during trading on Thursday . The stock traded as low as $1,588.8987 and last traded at $1,665.00. Approximately 8,857 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 11,539 shares. The stock had previously closed at $1,750.11.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FRFHF shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Fairfax Financial in a research note on Thursday, October 16th. Scotiabank restated an “outperform” rating on shares of Fairfax Financial in a research report on Wednesday, October 22nd. BMO Capital Markets downgraded shares of Fairfax Financial from an “outperform” rating to a “hold” rating in a report on Wednesday. Zacks Research raised shares of Fairfax Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, National Bankshares restated an “outperform” rating on shares of Fairfax Financial in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Fairfax Financial Trading Down 0.3%

The stock has a market capitalization of $36.61 billion, a PE ratio of 8.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 2.77. The company’s 50 day moving average price is $1,788.22 and its two-hundred day moving average price is $1,743.96.

Fairfax Financial (OTCMKTS:FRFHF) last released its earnings results on Thursday, November 6th. The financial services provider reported $52.04 earnings per share for the quarter, topping analysts’ consensus estimates of $41.00 by $11.04. Fairfax Financial had a net margin of 15.01% and a return on equity of 16.47%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.57 billion. As a group, analysts expect that Fairfax Financial Holdings Ltd. will post 166.85 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.