Fairfax Financial (TSE:FFH) Given New C$2,318.00 Price Target at RBC Dominion Securities

Key Points

• RBC Dominion Securities raised Fairfax Financial’s price target to C$2,318 from C$2,223 while maintaining an “outperform” rating, though the target implies 6.64% downside from the current price.
• Analyst sentiment remains positive overall, with four Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average target price of C$2,666.12.
• Fairfax shares traded at C$2,482.96, with a C$55.55 billion market capitalization. The company recently reported C$90.05 in quarterly EPS on C$18.46 billion in revenue, alongside a 13.57% net margin and 16.94% return on equity.

Fairfax Financial (TSE:FFH - Get Free Report) had its price objective lifted by investment analysts at RBC Dominion Securities from C$2,223.00 to C$2,318.00 in a report released on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. RBC Dominion Securities's price objective indicates a potential downside of 6.64% from the company's current price.

A number of other analysts have also recently commented on the stock. Canadian Imperial Bank of Commerce set a C$2,350.00 target price on shares of Fairfax Financial and gave the stock a "neutral" rating in a research note on Friday, June 26th. National Bank Financial raised their price target on shares of Fairfax Financial from C$3,300.00 to C$3,450.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. ATB Cormark Capital Markets decreased their price target on shares of Fairfax Financial from C$2,600.00 to C$2,500.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 8th. Finally, Raymond James Financial lowered their price objective on Fairfax Financial from C$3,000.00 to C$2,900.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$2,666.12.

Fairfax Financial Price Performance

Fairfax Financial stock traded down C$32.33 during trading on Friday, reaching C$2,482.96. The company had a trading volume of 26,820 shares, compared to its average volume of 70,267. The firm's 50-day simple moving average is C$2,275.65 and its 200 day simple moving average is C$2,300.08. Fairfax Financial has a 1-year low of C$2,066.16 and a 1-year high of C$2,700.00. The firm has a market capitalization of C$55.55 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.27 and a beta of 0.34. The company has a debt-to-equity ratio of 54.38, a quick ratio of 0.93 and a current ratio of 2.03.

Fairfax Financial (TSE:FFH - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$90.05 EPS for the quarter. The company had revenue of C$18.46 billion during the quarter. Fairfax Financial had a net margin of 13.57% and a return on equity of 16.94%. As a group, equities research analysts anticipate that Fairfax Financial will post 212.30 earnings per share for the current fiscal year.

About Fairfax Financial

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

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