AXIS Capital Holdings Limited (NYSE:AXS) Expected to Earn Q2 2024 Earnings of $2.50 Per Share

AXIS Capital Holdings Limited (NYSE:AXS) – Analysts at Roth Capital cut their Q2 2024 earnings estimates for AXIS Capital in a research report issued on Thursday, May 2nd. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings per share of $2.50 for the quarter, down from their prior 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.

Several other analysts have also issued reports on the stock. Wells Fargo & Company decreased their price target on shares of AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. UBS Group upped their price target on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.33.

AXIS Capital Stock Up 3.2 %

AXS opened at $68.80 on Monday. AXIS Capital has a 1-year low of $51.61 and a 1-year high of $69.11. The business has a 50 day moving average of $63.06 and a 200-day moving average of $58.88. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.29 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38.

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

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Monday, March 4th were paid a $0.44 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.76 annualized dividend and a dividend yield of 2.56%. AXIS Capital’s dividend payout ratio is presently 26.91%.

Institutional Investors Weigh In On AXIS Capital

Hedge funds have recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of AXIS Capital during the fourth quarter worth approximately $43,000. VisionPoint Advisory Group LLC acquired a new stake in AXIS Capital during the 3rd quarter valued at $51,000. Daiwa Securities Group Inc. bought a new position in AXIS Capital in the 4th quarter valued at $55,000. Parkside Financial Bank & Trust boosted its stake in AXIS Capital by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 237 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in shares of AXIS Capital by 61,675.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock valued at $137,000 after buying an additional 2,467 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.