Fairfax Financial (OTCMKTS:FRFHF) Releases Quarterly Earnings Results, Misses Expectations By $22.03 EPS

Fairfax Financial (OTCMKTS:FRFHF) announced its quarterly earnings results on Thursday. The financial services provider reported $63.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $85.41 by ($22.03), Zacks reports. Fairfax Financial had a net margin of 14.16% and a return on equity of 15.05%.

Fairfax Financial Stock Down 1.7%

FRFHF traded down $29.71 on Thursday, hitting $1,684.29. The company had a trading volume of 10,373 shares, compared to its average volume of 9,780. The stock has a fifty day simple moving average of $1,632.13 and a 200-day simple moving average of $1,681.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.66 and a quick ratio of 3.66. The firm has a market capitalization of $35.93 billion, a P/E ratio of 8.32 and a beta of 0.49. Fairfax Financial has a 52-week low of $1,500.00 and a 52-week high of $1,949.00.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FRFHF. Zacks Research cut 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 Fairfax Financial in a report on Friday, June 26th. They set a “neutral” rating for the company. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fairfax Financial in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

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.