Fairfax Financial (OTCMKTS:FRFHF) Announces Quarterly Earnings Results, Beats Estimates By $1.36 EPS

Key Points

• Fairfax Financial reported earnings of $61.61 per share, exceeding analysts' estimates by $1.36, although revenue fell short at $9.18 billion against expectations of $9.30 billion.
• Shares of Fairfax Financial fell by 1.7% to $1,744.94 on the trading day following the earnings announcement.
• Several brokerages have rated Fairfax Financial as a buy or outperform, indicating optimism about potential growth, with an average price target of $1,500.00.

Fairfax Financial (OTCMKTS:FRFHF - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $61.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $60.25 by $1.36, Zacks reports. Fairfax Financial had a net margin of 14.68% and a return on equity of 16.39%. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.30 billion.

Fairfax Financial Stock Down 0.5%

OTCMKTS FRFHF traded down $7.98 on Wednesday, hitting $1,749.63. 1,152 shares of the company were exchanged, compared to its average volume of 4,991. The company has a market cap of $39.59 billion, a PE ratio of 8.87 and a beta of 0.79. Fairfax Financial has a 12 month low of $1,037.00 and a 12 month high of $1,833.48. The stock has a fifty day moving average of $1,758.84 and a 200-day moving average of $1,564.52. The company has a current ratio of 4.20, a quick ratio of 4.20 and a debt-to-equity ratio of 0.45.

Analysts Set New Price Targets

Several brokerages have issued reports on FRFHF. National Bankshares restated an "outperform" rating on shares of Fairfax Financial in a research report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Fairfax Financial in a research report on Monday, May 5th. Royal Bank Of Canada upgraded shares of Fairfax Financial to a "moderate buy" rating in a research report on Wednesday, June 18th. Raymond James Financial raised shares of Fairfax Financial to a "moderate buy" rating in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of Fairfax Financial from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Three investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $1,500.00.

About Fairfax Financial

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.