Fairfax Financial (OTCMKTS:FRFHF) Releases Quarterly Earnings Results, Beats Estimates By $13.85 EPS

Fairfax Financial (OTCMKTS:FRFHF) issued its quarterly earnings results on Tuesday. The financial services provider reported $43.32 EPS for the quarter, topping analysts’ consensus estimates of $29.47 by $13.85, Zacks reports. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.42 billion. Fairfax Financial had a net margin of 12.94% and a return on equity of 13.90%.

Fairfax Financial Trading Up 11.5%

Fairfax Financial stock traded up $203.47 during mid-day trading on Thursday, hitting $1,972.58. 958 shares of the stock were exchanged, compared to its average volume of 9,120. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.46. Fairfax Financial has a 12 month low of $1,500.00 and a 12 month high of $1,989.00. The firm’s fifty day simple moving average is $1,654.12 and its two-hundred day simple moving average is $1,668.52. The stock has a market capitalization of $41.02 billion, a price-to-earnings ratio of 10.10 and a beta of 0.45.

Wall Street Analysts Forecast Growth

FRFHF has been the subject of a number of recent research reports. Zacks Research downgraded Fairfax Financial from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Scotiabank reaffirmed an “outperform” rating on shares of Fairfax Financial in a report on Friday, July 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Fairfax Financial in a report on Friday, October 16th. Finally, ATB Cormark Capital Markets upgraded Fairfax Financial from a “hold” rating to a “moderate buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Fairfax Financial

Fairfax Financial Holdings Limited is a Toronto-based holding company engaged primarily in property and casualty insurance and reinsurance. Through its operating subsidiaries, the company provides commercial and personal insurance products, specialty coverage, and reinsurance solutions to businesses, institutions, and individuals.

Fairfax’s insurance operations include companies such as Odyssey Group, Allied World, Brit, Northbridge Insurance, Crum & Forster, and Zenith. Its businesses serve customers across Canada, the United States, Europe, and other international markets.