Fairfax Financial (OTCMKTS:FRFHF) Hits New 52-Week High After Earnings Beat

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $1,960.00 and last traded at $1,945.56, with a volume of 11,359 shares trading hands. The stock had previously closed at $1,769.11.

The financial services provider reported $43.32 earnings per share for the quarter, beating analysts’ consensus estimates of $29.47 by $13.85. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.42 billion. Fairfax Financial had a net margin of 13.83% and a return on equity of 14.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FRFHF. Zacks Research lowered shares of Fairfax Financial from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. BMO Capital Markets reissued a “market perform” rating on shares of Fairfax Financial in a research note on Friday, October 16th. Finally, Scotiabank restated an “outperform” rating on shares of Fairfax Financial in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Fairfax Financial Price Performance

The business’s 50 day moving average is $1,647.56 and its two-hundred day moving average is $1,667.89. The firm has a market cap of $40.70 billion, a P/E ratio of 9.59 and a beta of 0.45. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.46.

Fairfax Financial Company Profile

Fairfax Financial Holdings Limited is a Toronto-based holding company engaged primarily in property and casualty insurance and reinsurance. Through its operating subsidiaries, the company provides commercial and personal insurance products, specialty coverage, and reinsurance solutions to businesses, institutions, and individuals.

Fairfax’s insurance operations include companies such as Odyssey Group, Allied World, Brit, Northbridge Insurance, Crum & Forster, and Zenith. Its businesses serve customers across Canada, the United States, Europe, and other international markets.