Fairfax Financial (OTCMKTS:FRFHF) Stock Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Fairfax Financial (OTCMKTS:FRFHF) moved above its 50-day moving average during Wednesday trading, with shares topping out at $1,647.99 before last trading near $1,617.32.
• Analyst sentiment remains mixed: Zacks Research downgraded the stock to hold, CIBC initiated coverage with a neutral rating, and the overall consensus rating is currently Hold.
• The company recently reported weaker-than-expected quarterly results, posting EPS of $31.11 versus estimates of $36.17 and revenue of $7.82 billion versus expectations of $8.62 billion.

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1,624.50 and traded as high as $1,647.99. Fairfax Financial shares last traded at $1,617.3199, with a volume of 8,965 shares trading hands.

Wall Street Analyst Weigh In

FRFHF has been the subject of a number of research reports. Zacks Research cut shares of Fairfax Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. Canadian Imperial Bank of Commerce initiated coverage on shares of Fairfax Financial in a research report on Friday, June 26th. They set a "neutral" rating for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Fairfax Financial Stock Down 0.4%

The firm has a 50-day simple moving average of $1,624.50 and a 200 day simple moving average of $1,688.11. The stock has a market capitalization of $34.50 billion, a P/E ratio of 7.99 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.66 and a quick ratio of 3.66.

Fairfax Financial (OTCMKTS:FRFHF - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $31.11 earnings per share for the quarter, missing the consensus estimate of $36.17 by ($5.06). The firm had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.62 billion. Fairfax Financial had a return on equity of 15.05% and a net margin of 14.16%. On average, equities research analysts forecast that Fairfax Financial Holdings Ltd. will post 184.47 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.