Zacks: Analysts Anticipate Axis Capital Holdings Limited (NYSE:AXS) to Announce $0.66 Earnings Per Share

Brokerages expect Axis Capital Holdings Limited (NYSE:AXS) to report earnings per share (EPS) of $0.66 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Axis Capital’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.82. Axis Capital reported earnings of ($0.39) per share in the same quarter last year, which would indicate a positive year over year growth rate of 269.2%. The company is expected to issue its next quarterly earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Axis Capital will report full year earnings of $0.39 per share for the current fiscal year, with EPS estimates ranging from $0.30 to $0.57. For the next year, analysts forecast that the business will report earnings of $4.27 per share, with EPS estimates ranging from $3.85 to $4.91. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Axis Capital.

Axis Capital (NYSE:AXS) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.18. Axis Capital had a negative net margin of 0.41% and a negative return on equity of 1.85%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 EPS.

Several research firms have recently commented on AXS. Morgan Stanley boosted their price target on Axis Capital from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. Zacks Investment Research raised shares of Axis Capital from a “sell” rating to a “hold” rating and set a $43.00 price target for the company in a research report on Friday, July 24th. Finally, TheStreet raised shares of Axis Capital from a “d+” rating to a “c-” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.40.

In other news, Director Charles A. Davis bought 442,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average price of $40.72 per share, for a total transaction of $17,998,240.00. Following the completion of the transaction, the director now directly owns 42,120 shares in the company, valued at $1,715,126.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles A. Davis purchased 830,596 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $45.84 per share, for a total transaction of $38,074,520.64. Following the acquisition, the director now owns 42,120 shares in the company, valued at approximately $1,930,780.80. The disclosure for this purchase can be found here. Insiders have bought 2,503,200 shares of company stock valued at $111,993,739 over the last quarter. Insiders own 2.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. raised its holdings in shares of Axis Capital by 175.0% during the second quarter. CSat Investment Advisory L.P. now owns 1,001 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 637 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Axis Capital in the 2nd quarter valued at about $49,000. Parkside Financial Bank & Trust boosted its stake in shares of Axis Capital by 283.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,469 shares of the insurance provider’s stock worth $60,000 after buying an additional 1,086 shares during the last quarter. US Bancorp DE grew its holdings in Axis Capital by 351.3% during the second quarter. US Bancorp DE now owns 1,742 shares of the insurance provider’s stock worth $71,000 after acquiring an additional 1,356 shares during the period. Finally, Marshall Wace LLP raised its position in Axis Capital by 1,488.4% during the first quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock valued at $172,000 after acquiring an additional 2,947 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital stock traded down $0.22 during mid-day trading on Thursday, reaching $43.82. 477,303 shares of the company were exchanged, compared to its average volume of 858,934. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $3.69 billion, a P/E ratio of -66.39, a PEG ratio of 22.01 and a beta of 0.68. The business has a fifty day moving average of $46.04 and a 200 day moving average of $40.94. Axis Capital has a 12-month low of $31.82 and a 12-month high of $66.15.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.74%. Axis Capital’s payout ratio is 65.08%.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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