Roth Capital Equities Analysts Decrease Earnings Estimates for AXIS Capital Holdings Limited (NYSE:AXS)

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

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

AXIS Capital Stock Performance

Shares of AXS stock opened at $68.80 on Monday. AXIS Capital has a 52 week low of $51.61 and a 52 week high of $69.11. The firm has a 50 day moving average of $63.06 and a two-hundred day moving average of $58.88. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $5.82 billion, a PE ratio of 10.52, a P/E/G ratio of 1.29 and a beta of 0.80.

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

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, March 1st. This represents a $1.76 dividend on an annualized basis and a yield of 2.56%. AXIS Capital’s payout ratio is currently 26.91%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new position in AXIS Capital in the fourth quarter valued at $43,000. VisionPoint Advisory Group LLC purchased a new position in AXIS Capital during the 3rd quarter worth approximately $51,000. Daiwa Securities Group Inc. purchased a new stake in AXIS Capital in the fourth quarter valued at approximately $55,000. Parkside Financial Bank & Trust boosted its holdings in shares of AXIS Capital by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 237 shares during the period. Finally, TFO Wealth Partners LLC grew its position in shares of AXIS Capital by 61,675.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock worth $137,000 after acquiring an additional 2,467 shares during 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.