Cormark Comments on Fairfax Financial Holdings Limited’s FY2024 Earnings (TSE:FFH)

Fairfax Financial Holdings Limited (TSE:FFH) – Stock analysts at Cormark cut their FY2024 earnings estimates for shares of Fairfax Financial in a research note issued to investors on Monday, May 6th. Cormark analyst J. Fenwick now expects that the company will post earnings per share of $181.76 for the year, down from their prior estimate of $194.75. The consensus estimate for Fairfax Financial’s current full-year earnings is $193.64 per share. Cormark also issued estimates for Fairfax Financial’s FY2025 earnings at $207.73 EPS.

Fairfax Financial (TSE:FFH) last released its quarterly earnings results on Thursday, February 15th. The company reported C$71.98 earnings per share for the quarter, missing analysts’ consensus estimates of C$81.40 by C($9.42). Fairfax Financial had a net margin of 12.26% and a return on equity of 17.26%. The firm had revenue of C$9.40 billion during the quarter, compared to the consensus estimate of C$10.25 billion.

A number of other research firms have also recently commented on FFH. Royal Bank of Canada lifted their target price on shares of Fairfax Financial from C$1,200.00 to C$1,275.00 and gave the stock an “outperform” rating in a research note on Monday. CIBC lifted their target price on shares of Fairfax Financial from C$1,700.00 to C$2,000.00 in a research note on Wednesday, March 13th. Scotiabank decreased their price objective on shares of Fairfax Financial from C$2,000.00 to C$1,950.00 and set an “outperform” rating for the company in a research note on Monday. National Bankshares lifted their price objective on shares of Fairfax Financial from C$2,000.00 to C$2,100.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Finally, BMO Capital Markets lifted their price objective on shares of Fairfax Financial from C$1,650.00 to C$1,800.00 in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Fairfax Financial has a consensus rating of “Buy” and a consensus target price of C$1,820.83.

Fairfax Financial Stock Down 0.6 %

TSE:FFH opened at C$1,552.23 on Thursday. Fairfax Financial has a fifty-two week low of C$911.02 and a fifty-two week high of C$1,563.67. The stock has a market capitalization of C$34.27 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.27 and a beta of 0.86. The company has a debt-to-equity ratio of 37.45, a quick ratio of 0.93 and a current ratio of 3.87. The company’s 50-day simple moving average is C$1,492.10 and its 200-day simple moving average is C$1,342.76.

Insider Buying and Selling

In related news, insider Andrew Barnard sold 2,572 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$1,120.68, for a total value of C$2,882,388.96. In other news, Director Christine N. Mclean purchased 80 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of C$1,349.98 per share, with a total value of C$107,998.40. Following the transaction, the director now owns 589 shares in the company, valued at approximately C$795,138.22. Also, insider Andrew Barnard sold 2,572 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$1,120.68, for a total transaction of C$2,882,388.96. In the last quarter, insiders purchased 190 shares of company stock valued at $273,877 and sold 5,011 shares valued at $6,334,563. 3.65% of the stock is owned by insiders.

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.