Q3 2024 Earnings Forecast for AXIS Capital Holdings Limited (NYSE:AXS) Issued By Zacks Research

by · The Cerbat Gem

AXIS Capital Holdings Limited (NYSE:AXS – Free Report) – Research analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of AXIS Capital in a report released on Monday, October 7th. Zacks Research analyst T. De now expects that the insurance provider will earn $2.33 per share for the quarter, up from their previous forecast of $2.31. The consensus estimate for AXIS Capital’s current full-year earnings is $10.71 per share. Zacks Research also issued estimates for AXIS Capital’s FY2024 earnings at $10.71 EPS, Q1 2025 earnings at $3.00 EPS, Q3 2026 earnings at $2.59 EPS and FY2026 earnings at $13.32 EPS.

AXIS Capital (NYSE:AXS – Get Free Report) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. AXIS Capital’s revenue was up 4.8% on a year-over-year basis.

A number of other research analysts have also recently issued reports on AXS. TD Cowen assumed coverage on shares of AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group raised their price objective on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Roth Mkm upped their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus target price of $92.86.

View Our Latest Stock Analysis on AXS

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $79.95 on Wednesday. AXIS Capital has a twelve month low of $52.90 and a twelve month high of $82.33. The stock’s 50 day moving average is $77.23 and its 200-day moving average is $71.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.26 and a beta of 0.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank bought a new stake in shares of AXIS Capital in the 1st quarter worth approximately $5,137,000. Foundry Partners LLC increased its holdings in AXIS Capital by 35.6% in the 1st quarter. Foundry Partners LLC now owns 85,803 shares of the insurance provider’s stock worth $5,579,000 after acquiring an additional 22,540 shares during the last quarter. Vanguard Group Inc. raised its stake in AXIS Capital by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 8,707,110 shares of the insurance provider’s stock valued at $482,113,000 after acquiring an additional 75,085 shares during the period. Connecticut Wealth Management LLC purchased a new stake in AXIS Capital during the first quarter valued at about $838,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of AXIS Capital during the 1st quarter valued at approximately $1,101,000. 93.44% of the stock is owned by institutional investors.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.20%. AXIS Capital’s payout ratio is currently 26.91%.

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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