Q2 2024 EPS Estimates for AXIS Capital Holdings Limited Decreased by Analyst (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS) – Investment analysts at Roth Capital decreased their Q2 2024 earnings per share estimates for shares of AXIS Capital in a report released on Thursday, May 2nd. Roth Capital analyst H. Fong now forecasts that the insurance provider will post earnings of $2.50 per share for the quarter, down from their previous estimate of $2.53. The consensus estimate for AXIS Capital’s current full-year earnings is $10.17 per share. Roth Capital also issued estimates for AXIS Capital’s Q3 2024 earnings at $2.43 EPS, Q4 2024 earnings at $2.76 EPS, Q1 2025 earnings at $2.80 EPS, Q2 2025 earnings at $2.77 EPS and Q4 2025 earnings at $3.15 EPS.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS.

Several other equities analysts have also recently commented on AXS. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company cut their price target on AXIS Capital from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Thursday, April 11th. UBS Group upped their price target on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Keefe, Bruyette & Woods upped their price target on AXIS Capital from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, AXIS Capital currently has a consensus rating of “Hold” and a consensus target price of $67.33.

AXIS Capital Trading Up 2.0 %

AXIS Capital stock opened at $66.68 on Monday. The business has a 50 day moving average price of $62.94 and a two-hundred day moving average price of $58.79. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. AXIS Capital has a 12 month low of $51.61 and a 12 month high of $66.84.

Hedge Funds Weigh In On AXIS Capital

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in AXIS Capital during the 1st quarter worth approximately $205,000. Sciencast Management LP bought a new stake in AXIS Capital during the 1st quarter worth approximately $572,000. Envestnet Portfolio Solutions Inc. bought a new stake in AXIS Capital during the 1st quarter worth approximately $328,000. Jennison Associates LLC grew its position in AXIS Capital by 1.7% during the 1st quarter. Jennison Associates LLC now owns 1,246,288 shares of the insurance provider’s stock worth $81,034,000 after acquiring an additional 20,746 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in AXIS Capital by 600.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the insurance provider’s stock worth $455,000 after acquiring an additional 6,000 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Monday, March 4th were issued a $0.44 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.64%. AXIS Capital’s payout ratio is presently 26.91%.

About AXIS Capital

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.