Zacks Research Weighs in on AXIS Capital Holdings Limited’s Q3 2024 Earnings (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS) – Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for shares of AXIS Capital in a report issued on Thursday, September 12th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings of $2.31 per share for the quarter, up from their prior estimate of $2.30. 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 Q4 2024 earnings at $2.88 EPS, Q2 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.54 EPS, FY2025 earnings at $11.60 EPS and FY2026 earnings at $13.15 EPS.

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

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped 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 lifted their target price on AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. UBS Group increased their price target on AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Roth Mkm lifted their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

AXIS Capital Trading Down 0.3 %

NYSE:AXS opened at $79.39 on Monday. AXIS Capital has a 52 week low of $52.90 and a 52 week high of $80.50. The firm’s fifty day moving average is $74.68 and its 200-day moving average is $69.60. The firm has a market cap of $6.72 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62.

Hedge Funds Weigh In On AXIS Capital

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of AXIS Capital by 43.9% during the fourth quarter. BNP Paribas Financial Markets now owns 26,663 shares of the insurance provider’s stock valued at $1,476,000 after purchasing an additional 8,135 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of AXIS Capital by 25.4% in the 4th quarter. QRG Capital Management Inc. now owns 7,580 shares of the insurance provider’s stock worth $420,000 after buying an additional 1,535 shares during the last quarter. ING Groep NV bought a new position in shares of AXIS Capital in the fourth quarter valued at approximately $1,168,000. Norges Bank purchased a new stake in shares of AXIS Capital during the fourth quarter valued at approximately $52,845,000. Finally, Hillsdale Investment Management Inc. bought a new stake in AXIS Capital during the fourth quarter worth $515,000. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Company Profile

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.