Axos Financial, Inc. to Post Q3 2024 Earnings of $1.70 Per Share, Wedbush Forecasts (NYSE:AX)

Axos Financial, Inc. (NYSE:AX) – Investment analysts at Wedbush upped their Q3 2024 earnings per share (EPS) estimates for shares of Axos Financial in a research note issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings per share of $1.70 for the quarter, up from their previous forecast of $1.68. Wedbush has a “Neutral” rating and a $62.00 price objective on the stock. The consensus estimate for Axos Financial’s current full-year earnings is $6.47 per share. Wedbush also issued estimates for Axos Financial’s Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $6.46 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.80 EPS, FY2025 earnings at $7.10 EPS, Q1 2026 earnings at $1.89 EPS and Q2 2026 earnings at $1.90 EPS.

Axos Financial (NYSE:AX) last announced its earnings results on Tuesday, January 30th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.21. The firm had revenue of $352.74 million during the quarter, compared to analysts’ expectations of $247.43 million. Axos Financial had a return on equity of 17.83% and a net margin of 24.55%. The company’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS.

A number of other equities research analysts have also weighed in on the company. TheStreet raised Axos Financial from a “c+” rating to a “b-” rating in a research report on Monday, December 4th. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, Raymond James lifted their target price on Axos Financial from $45.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

Axos Financial Price Performance

Shares of AX stock opened at $54.04 on Thursday. Axos Financial has a 52-week low of $32.05 and a 52-week high of $60.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $3.07 billion, a P/E ratio of 7.97 and a beta of 1.43. The stock has a 50 day moving average price of $52.54 and a 200 day moving average price of $46.45.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Axos Financial by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,944,406 shares of the company’s stock valued at $203,477,000 after purchasing an additional 80,318 shares in the last quarter. State Street Corp boosted its holdings in Axos Financial by 11.1% in the 2nd quarter. State Street Corp now owns 2,966,378 shares of the company’s stock valued at $116,994,000 after purchasing an additional 295,590 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Axos Financial by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,724,331 shares of the company’s stock valued at $148,755,000 after acquiring an additional 134,266 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Axos Financial by 1.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,831,802 shares of the company’s stock valued at $84,977,000 after acquiring an additional 26,763 shares during the period. Finally, Davis Asset Management L.P. lifted its position in shares of Axos Financial by 5.3% during the 3rd quarter. Davis Asset Management L.P. now owns 1,500,000 shares of the company’s stock valued at $56,790,000 after acquiring an additional 75,000 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In other Axos Financial news, Director Sara Wardell-Smith acquired 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $49.75 per share, for a total transaction of $248,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $248,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Axos Financial news, EVP Andrew J. Micheletti sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.89, for a total value of $132,225.00. Following the sale, the executive vice president now directly owns 422,583 shares in the company, valued at $22,350,414.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sara Wardell-Smith purchased 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $49.75 per share, for a total transaction of $248,750.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The disclosure for this purchase can be found here. Company insiders own 4.82% of the company’s stock.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.