AXIS Capital (NYSE:AXS) Issues Earnings Results, Beats Estimates By $0.21 EPS

by · The Markets Daily

AXIS Capital (NYSE:AXS – Get Free Report) announced its quarterly earnings data on Wednesday. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.21, Briefing.com reports. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. During the same quarter in the previous year, the business earned $2.34 earnings per share.

AXIS Capital Stock Performance

AXIS Capital stock traded down $0.95 during mid-day trading on Thursday, reaching $79.88. 417,976 shares of the stock traded hands, compared to its average volume of 576,364. AXIS Capital has a 12-month low of $52.90 and a 12-month high of $83.19. The business’s 50-day moving average is $79.33 and its 200-day moving average is $73.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $6.72 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 0.27 and a beta of 0.89.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a $0.44 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.20%. AXIS Capital’s dividend payout ratio (DPR) is currently 24.41%.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen began coverage on shares of AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 price objective on the stock. UBS Group raised their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Bank of America upped their price objective on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Finally, Roth Mkm boosted their price target on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.86.

View Our Latest Stock Analysis on AXIS Capital

AXIS Capital Company Profile

(Get Free Report)

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.

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