Brokerages Anticipate Axis Capital Holdings Limited (NYSE:AXS) to Announce $1.24 Earnings Per Share

Brokerages expect Axis Capital Holdings Limited (NYSE:AXS) to report earnings per share (EPS) of $1.24 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Axis Capital’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $1.51. Axis Capital also reported earnings of $1.24 per share in the same quarter last year. The company is expected to issue its next quarterly earnings report on Wednesday, April 22nd.

According to Zacks, analysts expect that Axis Capital will report full year earnings of $5.13 per share for the current fiscal year, with EPS estimates ranging from $4.50 to $5.59. For the next year, analysts forecast that the business will report earnings of $5.67 per share, with EPS estimates ranging from $4.60 to $6.45. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Axis Capital.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Axis Capital had a net margin of 6.25% and a return on equity of 5.39%. The business had revenue of $786.15 million during the quarter, compared to analysts’ expectations of $741.78 million. During the same period in the prior year, the company earned ($1.61) earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year.

Several research analysts have weighed in on the stock. Wells Fargo & Co lowered shares of Axis Capital from an “equal weight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Monday, January 6th. UBS Group upped their target price on shares of Axis Capital from $69.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Zacks Investment Research upgraded shares of Axis Capital from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $68.29.

NYSE AXS traded down $0.66 during trading hours on Tuesday, hitting $50.29. 8,246 shares of the stock were exchanged, compared to its average volume of 515,603. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. Axis Capital has a 12-month low of $45.85 and a 12-month high of $67.51. The stock has a 50-day moving average of $61.75 and a 200 day moving average of $61.58. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.41.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, March 30th. Axis Capital’s dividend payout ratio (DPR) is presently 65.08%.

In other news, Director Henry B. Smith sold 10,000 shares of Axis Capital stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $64.91, for a total value of $649,100.00. Following the completion of the transaction, the director now directly owns 44,976 shares of the company’s stock, valued at approximately $2,919,392.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Pzena Investment Management LLC raised its position in Axis Capital by 22.2% during the fourth quarter. Pzena Investment Management LLC now owns 5,383,049 shares of the insurance provider’s stock valued at $319,968,000 after purchasing an additional 978,726 shares during the period. Norges Bank bought a new position in shares of Axis Capital during the fourth quarter valued at approximately $52,893,000. Ceredex Value Advisors LLC bought a new position in Axis Capital in the fourth quarter worth approximately $52,845,000. FMR LLC grew its stake in Axis Capital by 39.1% in the fourth quarter. FMR LLC now owns 2,084,958 shares of the insurance provider’s stock worth $123,930,000 after purchasing an additional 586,290 shares in the last quarter. Finally, Samlyn Capital LLC grew its stake in Axis Capital by 49.3% in the fourth quarter. Samlyn Capital LLC now owns 1,454,039 shares of the insurance provider’s stock worth $86,428,000 after purchasing an additional 480,240 shares in the last quarter. Hedge funds and other institutional investors own 91.01% of the company’s stock.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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