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

Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. ATB Cormark Capital Markets upgraded Fairfax Financial from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, November 4th. Zacks Research raised Fairfax Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating on shares of Fairfax Financial in a research report on Friday, October 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Fairfax Financial in a research note on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Fairfax Financial Price Performance

The company’s 50 day moving average price is $1,665.51 and its 200-day moving average price is $1,670.22. The stock has a market cap of $39.12 billion, a P/E ratio of 9.63 and a beta of 0.45. The company has a quick ratio of 3.52, a current ratio of 3.53 and a debt-to-equity ratio of 0.47.

Fairfax Financial (OTCMKTS:FRFHF) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $43.32 earnings per share 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. As a group, sell-side analysts expect that Fairfax Financial Holdings Ltd. will post 176.01 earnings per share for the current 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.