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

Fairfax Financial Holdings Limited (TSE:FFH) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$2,286.08 and traded as low as C$2,256.11. Fairfax Financial shares last traded at C$2,266.05, with a volume of 45,811 shares trading hands.

Wall Street Analysts Forecast Growth

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

Fairfax Financial Stock Performance

The firm’s 50-day moving average price is C$2,286.08 and its 200-day moving average price is C$2,358.45. The company has a debt-to-equity ratio of 54.00, a current ratio of 2.65 and a quick ratio of 0.93. The stock has a market cap of C$46.74 billion, a P/E ratio of 11.21, a PEG ratio of 0.27 and a beta of 0.36.

Fairfax Financial (TSE:FFH) last issued its earnings results on Thursday, April 30th. The company reported C$43.25 earnings per share for the quarter. Fairfax Financial had a net margin of 15.41% and a return on equity of 17.32%. The firm had revenue of C$15.57 billion during the quarter. Sell-side analysts expect that Fairfax Financial Holdings Limited will post 212.3039807 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.