Fairfax Financial (OTCMKTS:FRFHF) Posts Earnings Results, Misses Estimates By $22.03 EPS

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

Fairfax Financial Trading Down 1.6%

Shares of FRFHF traded down $26.59 on Thursday, hitting $1,687.41. 10,373 shares of the stock traded hands, compared to its average volume of 9,722. Fairfax Financial has a 1 year low of $1,500.00 and a 1 year high of $1,949.00. The stock’s 50 day moving average is $1,632.13 and its two-hundred day moving average is $1,681.68. The firm has a market capitalization of $35.99 billion, a P/E ratio of 8.34 and a beta of 0.49. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Fairfax Financial in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce assumed coverage on Fairfax Financial in a research note on Friday, June 26th. They issued a “neutral” rating on the stock. Finally, Zacks Research downgraded Fairfax Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fairfax Financial presently has a consensus 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.