Fairfax Financial (OTCMKTS:FRFHF) Hits New 1-Year High on Better-Than-Expected Earnings

Fairfax Financial Holdings Limited (OTCMKTS:FRFHF) reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $1,493.52 and last traded at $1,463.92, with a volume of 7694 shares changing hands. The stock had previously closed at $1,407.77.

The financial services provider reported $50.42 earnings per share for the quarter, beating the consensus estimate of $43.72 by $6.70. Fairfax Financial had a net margin of 13.40% and a return on equity of 15.21%. The firm had revenue of $7.74 billion during the quarter.

Fairfax Financial Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 16th were issued a $15.00 dividend. This represents a yield of 1.09%. The ex-dividend date of this dividend was Thursday, January 16th. Fairfax Financial’s payout ratio is currently 9.17%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price objective on shares of Fairfax Financial from $1,425.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Monday, November 4th.

Fairfax Financial Stock Performance

The company has a market capitalization of $33.51 billion, a P/E ratio of 8.65 and a beta of 0.80. The stock has a fifty day simple moving average of $1,388.13 and a 200-day simple moving average of $1,301.13. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Fairfax Financial Company Profile

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.