Q3 2023 EPS Estimates for AXIS Capital Holdings Limited (NYSE:AXS) Lowered by Analyst

AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) – Investment analysts at Zacks Research reduced their Q3 2023 EPS estimates for AXIS Capital in a research report issued to clients and investors on Wednesday, May 10th. Zacks Research analyst T. De now anticipates that the insurance provider will earn $1.48 per share for the quarter, down from their previous estimate of $1.53. The consensus estimate for AXIS Capital’s current full-year earnings is $7.70 per share. Zacks Research also issued estimates for AXIS Capital’s Q4 2023 earnings at $1.55 EPS, FY2023 earnings at $7.06 EPS, Q3 2024 earnings at $1.12 EPS, Q4 2024 earnings at $2.29 EPS, FY2024 earnings at $7.91 EPS and Q1 2025 earnings at $2.81 EPS.

AXIS Capital (NYSE:AXS – Get Rating) last posted its earnings results on Thursday, April 27th. The insurance provider reported $2.33 EPS for the quarter, beating the consensus estimate of $1.89 by $0.44. AXIS Capital had a return on equity of 13.34% and a net margin of 4.87%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis.

AXS has been the topic of several other reports. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $62.00 to $64.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 14th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Friday, April 28th. Wells Fargo & Company decreased their price target on shares of AXIS Capital from $61.00 to $58.00 and set an “underweight” rating for the company in a research note on Wednesday, April 5th. Roth Capital reiterated a “buy” rating on shares of AXIS Capital in a research note on Thursday, April 27th. Finally, Jefferies Financial Group lifted their price objective on AXIS Capital from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.00.

AXIS Capital Trading Down 0.7 %

Shares of AXS stock opened at $54.73 on Monday. The stock’s fifty day moving average price is $55.10 and its two-hundred day moving average price is $56.61. The company has a market cap of $4.66 billion, a PE ratio of 20.97, a P/E/G ratio of 1.42 and a beta of 0.83. AXIS Capital has a fifty-two week low of $48.32 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

Institutional Investors Weigh In On AXIS Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Machina Capital S.A.S. purchased a new position in AXIS Capital in the first quarter valued at $27,000. US Bancorp DE lifted its stake in AXIS Capital by 447.2% during the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 398 shares in the last quarter. Horizon Bancorp Inc. IN acquired a new stake in shares of AXIS Capital during the fourth quarter worth about $33,000. Lazard Asset Management LLC acquired a new stake in shares of AXIS Capital in the first quarter valued at $33,000. Finally, Quent Capital LLC raised its stake in shares of AXIS Capital by 97.5% in the fourth quarter. Quent Capital LLC now owns 636 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 314 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Friday, June 30th will be given a $0.44 dividend. The ex-dividend date is Thursday, June 29th. This represents a $1.76 annualized dividend and a yield of 3.22%. AXIS Capital’s dividend payout ratio is currently 67.43%.

AXIS Capital Company Profile

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AXIS Capital Holdings Ltd. engages in the provision of various insurance, and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, political risk, professional lines, liability, and accident, and health insurance products.