AXIS Capital (NYSE:AXS) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

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

AXIS Capital Stock Up 1.0 %

AXIS Capital stock traded up $0.78 during mid-day trading on Friday, hitting $79.04. The company had a trading volume of 566,685 shares, compared to its average volume of 579,092. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.27 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. AXIS Capital has a 1 year low of $52.90 and a 1 year high of $83.19. The business has a fifty day moving average of $79.42 and a 200 day moving average of $73.52.

AXIS Capital Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is 24.41%.

Wall Street Analyst Weigh In

AXS has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their target price on shares of 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 began coverage on AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. Roth Mkm increased their price target on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America boosted their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.86.

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.