Fairfax Financial (TSE:FFH) Stock Passes Below 50 Day Moving Average – Here’s Why

Shares of Fairfax Financial Holdings Limited (TSE:FFH) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$2,297.51 and traded as low as C$2,248.46. Fairfax Financial shares last traded at C$2,279.69, with a volume of 22,808 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FFH. Royal Bank Of Canada raised their target price on Fairfax Financial from C$2,234.00 to C$2,261.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Raymond James Financial upped their price target on Fairfax Financial from C$3,000.00 to C$3,050.00 and gave the company an “outperform” rating in a report on Monday, May 4th. National Bank Financial upped their price target on Fairfax Financial from C$3,200.00 to C$3,300.00 in a report on Wednesday, April 29th. BMO Capital Markets dropped their price target on Fairfax Financial from C$2,550.00 to C$2,400.00 in a report on Monday, May 4th. Finally, ATB Cormark Capital Markets upped their price target on Fairfax Financial from C$2,500.00 to C$2,600.00 and gave the company a “sector perform” rating in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$2,793.50.

Fairfax Financial Stock Performance

The firm’s fifty day simple moving average is C$2,294.04 and its 200 day simple moving average is C$2,362.96. The company has a market capitalization of C$46.69 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 0.27 and a beta of 0.36. The company has a debt-to-equity ratio of 54.00, a current ratio of 2.65 and a quick ratio of 0.93.

Fairfax Financial (TSE:FFH) last announced its earnings results on Thursday, April 30th. The company reported C$43.25 EPS for the quarter. Fairfax Financial had a net margin of 15.41% and a return on equity of 17.32%. The company had revenue of C$15.57 billion during the quarter. On average, sell-side analysts forecast that Fairfax Financial Holdings Limited will post 212.3039807 EPS for the current year.

Fairfax Financial Company Profile

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