Fairfax Financial (OTCMKTS:FRFHF) Shares Gap Down – Here’s Why

Shares of Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) gapped down prior to trading on Monday. The stock had previously closed at $1,937.45, but opened at $1,828.05. Fairfax Financial shares last traded at $1,874.46, with a volume of 53 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FRFHF. Scotiabank reiterated an “outperform” rating on shares of Fairfax Financial in a research report on Friday, July 24th. BMO Capital Markets restated a “market perform” rating on shares of Fairfax Financial in a research report on Friday, October 16th. ATB Cormark Capital Markets raised shares of Fairfax Financial from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, November 4th. Finally, Zacks Research upgraded shares of Fairfax Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, November 5th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Fairfax Financial Trading Up 1.7%

The company has a quick ratio of 3.52, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $40.55 billion, a P/E ratio of 9.98 and a beta of 0.45. The firm’s 50-day simple moving average is $1,677.54 and its 200 day simple moving average is $1,672.41.

Fairfax Financial (OTCMKTS:FRFHF) last announced its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $43.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $29.47 by $13.85. Fairfax Financial had a net margin of 12.94% and a return on equity of 13.77%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities research analysts anticipate that Fairfax Financial Holdings Ltd. will post 176.01 EPS for the current fiscal year.

About Fairfax Financial

Fairfax Financial Holdings Limited is a Canadian holding company focused primarily on property and casualty insurance and reinsurance. Through its subsidiaries and affiliates, it offers commercial and personal insurance, specialty coverage and reinsurance products. Founded in 1985 by Prem Watsa, the company is headquartered in Toronto. Its insurance and reinsurance operations serve customers and businesses in Canada, the United States and international markets. Fairfax also manages investments for its insurance businesses and other entities.