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

AXIS Capital (NYSE:AXS) announced its quarterly earnings results on Wednesday. The insurance provider reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.21, Briefing.com reports. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.83%. During the same period last year, the firm posted $2.34 earnings per share.

AXIS Capital Stock Down 3.2 %

Shares of AXS stock opened at $78.26 on Friday. The company has a current ratio of 0.62, a quick 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 firm’s fifty day moving average price is $79.33 and its two-hundred day moving average price is $73.36. The firm has a market capitalization of $6.59 billion, a P/E ratio of 10.85, a PEG ratio of 0.27 and a beta of 0.89.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.25%. AXIS Capital’s payout ratio is currently 24.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. UBS Group lifted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of 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 objective 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. Finally, Bank of America raised their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a 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 stock. According to data from MarketBeat, the company 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.