AXIS Capital (NYSE:AXS) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

AXIS Capital (NYSE:AXS) issued its earnings results on Wednesday. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.50 by $0.21, Briefing.com reports. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. During the same quarter last year, the firm earned $2.34 EPS.

AXIS Capital Price Performance

Shares of AXS traded down $1.51 during midday trading on Thursday, reaching $79.32. The stock had a trading volume of 531,412 shares, compared to its average volume of 576,848. AXIS Capital has a 52 week low of $52.90 and a 52 week high of $83.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s 50 day moving average price is $79.33 and its 200-day moving average price is $73.36. The company has a market capitalization of $6.68 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.27 and a beta of 0.89.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their price target on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. TD Cowen initiated coverage on AXIS Capital in a report on Friday, October 4th. They issued a “buy” rating and a $118.00 price target on the stock. Finally, Roth Mkm lifted their target price on 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 seven have given a buy rating to the company. According to MarketBeat, AXIS Capital currently has an average 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.