Axis Capital (NYSE:AXS) Announces Earnings Results, Beats Estimates By $0.27 EPS

Axis Capital (NYSE:AXS) issued its quarterly earnings results on Wednesday. The insurance provider reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.27, FiscalAI reports. Axis Capital had a return on equity of 16.53% and a net margin of 14.62%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $3.25 EPS.

Axis Capital Price Performance

Axis Capital stock traded up $0.91 during midday trading on Friday, reaching $103.75. 296,453 shares of the stock were exchanged, compared to its average volume of 655,679. The firm has a market cap of $7.57 billion, a PE ratio of 7.94, a PEG ratio of 3.49 and a beta of 0.45. Axis Capital has a 52 week low of $92.23 and a 52 week high of $119.99. The company’s fifty day moving average is $98.62 and its 200-day moving average is $101.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64.

Axis Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.44 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.76 annualized dividend and a yield of 1.7%. Axis Capital’s dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Roth Capital set a $115.00 price objective on shares of Axis Capital in a report on Thursday. Zacks Research raised Axis Capital from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Wells Fargo & Company cut their price target on shares of Axis Capital from $126.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Citigroup restated a “neutral” rating on shares of Axis Capital in a research report on Thursday. Finally, Capital One Financial set a $108.00 price objective on shares of Axis Capital in a report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Axis Capital currently has a consensus rating of “Moderate Buy” and an average target price of $118.69.

Axis Capital Company Profile

Axis Capital Holdings Limited (NYSE: AXS) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.

AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.