AXIS Capital (NYSE:AXS) Issues Earnings Results

AXIS Capital (NYSE:AXSGet Free Report) issued its quarterly earnings results on Wednesday. The insurance provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.21, Briefing.com reports. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. During the same quarter in the previous year, the firm earned $2.34 earnings per share.

AXIS Capital Price Performance

Shares of NYSE:AXS traded down $0.95 on Thursday, reaching $79.88. The company’s stock had a trading volume of 417,976 shares, compared to its average volume of 576,364. The company has a 50-day simple moving average of $79.33 and a 200 day simple moving average of $73.36. AXIS Capital has a 52-week low of $52.90 and a 52-week high of $83.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $6.72 billion, a P/E ratio of 11.11, a PEG ratio of 0.27 and a beta of 0.89.

AXIS Capital Announces Dividend

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

Analyst Upgrades and Downgrades

AXS has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. TD Cowen initiated coverage on AXIS Capital in a research note on Friday, October 4th. They issued a “buy” rating and a $118.00 price objective for the company. Bank of America lifted their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group lifted their price objective 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. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.86.

Get Our Latest Report on AXS

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.

See Also

Earnings History for AXIS Capital (NYSE:AXS)

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