AXIS Capital (NYSE:AXS) Issues Quarterly Earnings Results

AXIS Capital (NYSE:AXS) released its quarterly earnings data on Wednesday. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16, Briefing.com reports. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a return on equity of 19.83% and a net margin of 10.82%. During the same quarter in the previous year, the business earned $2.34 earnings per share.

AXIS Capital Stock Up 1.0 %

AXIS Capital stock traded up $0.78 during trading hours on Friday, hitting $79.04. 566,685 shares of the stock traded hands, compared to its average volume of 579,092. AXIS Capital has a one year low of $52.90 and a one year high of $83.19. The firm’s 50-day moving average price is $79.42 and its two-hundred day moving average price is $73.52. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.65 billion, a PE ratio of 10.97, a PEG ratio of 0.27 and a beta of 0.89.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 24.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXS shares. UBS Group lifted their price target on AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. TD Cowen initiated coverage on shares of AXIS Capital in a research note on Friday, October 4th. They issued a “buy” rating and a $118.00 target price on the stock. Roth Mkm increased their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America boosted their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased 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. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.86.

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.