Fairfax Financial (OTCMKTS:FRFHF) Downgraded to “Hold” Rating by Zacks Research

Fairfax Financial (OTCMKTS:FRFHF) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Fairfax Financial Price Performance

FRFHF opened at $1,575.48 on Wednesday. The stock has a fifty day moving average price of $1,673.76 and a 200 day moving average price of $1,720.91. Fairfax Financial has a 1 year low of $1,500.00 and a 1 year high of $1,949.00. The stock has a market cap of $33.86 billion, a price-to-earnings ratio of 7.79 and a beta of 0.48. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.46.

Fairfax Financial (OTCMKTS:FRFHF) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $31.11 earnings per share 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 the consensus estimate of $8.62 billion. Fairfax Financial had a net margin of 14.16% and a return on equity of 15.05%. Analysts forecast that Fairfax Financial will post 183.35 EPS for the current fiscal 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.