Q2 2024 EPS Estimates for AXIS Capital Holdings Limited Cut by Analyst (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS) – Research analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for AXIS Capital in a report released on Thursday, May 2nd. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of $2.50 per share for the quarter, down from their previous forecast of $2.53. The consensus estimate for AXIS Capital’s current full-year earnings is $10.17 per share. Roth Capital also issued estimates for AXIS Capital’s Q3 2024 earnings at $2.43 EPS, Q4 2024 earnings at $2.76 EPS, Q1 2025 earnings at $2.80 EPS, Q2 2025 earnings at $2.77 EPS and Q4 2025 earnings at $3.15 EPS.

A number of other research firms also recently weighed in on AXS. Wells Fargo & Company cut their price target on AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Thursday, April 11th. UBS Group upped their price target on AXIS Capital from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, AXIS Capital has an average rating of “Hold” and an average target price of $67.33.

AXIS Capital Stock Performance

AXS stock opened at $65.39 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.60. AXIS Capital has a fifty-two week low of $51.61 and a fifty-two week high of $66.74. The stock has a market capitalization of $5.54 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. The company has a 50 day moving average price of $62.84 and a 200 day moving average price of $58.73.

AXIS Capital (NYSE:AXS) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $2.33 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year.

Hedge Funds Weigh In On AXIS Capital

Several institutional investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC purchased a new position in shares of AXIS Capital in the fourth quarter valued at $43,000. VisionPoint Advisory Group LLC bought a new stake in AXIS Capital during the 3rd quarter valued at approximately $51,000. Daiwa Securities Group Inc. purchased a new stake in shares of AXIS Capital in the 4th quarter worth about $55,000. Parkside Financial Bank & Trust lifted its holdings in shares of AXIS Capital by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 237 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in AXIS Capital by 61,675.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 2,467 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

Insider Activity

In other AXIS Capital news, Director Stanley A. Galanski purchased 7,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $58.45 per share, for a total transaction of $409,150.00. Following the acquisition, the director now owns 9,763 shares of the company’s stock, valued at $570,647.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, March 1st. AXIS Capital’s payout ratio is presently 26.91%.

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.