AXIS Capital (NYSE:AXS) Announces Quarterly Earnings Results, Beats Estimates By $0.29 EPS

AXIS Capital (NYSE:AXS) issued its quarterly earnings data on Wednesday. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29, Zacks reports. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%.

AXIS Capital Trading Down 0.6 %

NYSE AXS traded down $0.57 during trading hours on Wednesday, hitting $89.88. 1,231,907 shares of the company’s stock were exchanged, compared to its average volume of 701,523. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $7.52 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. The business’s 50 day moving average is $89.89 and its 200-day moving average is $82.24. AXIS Capital has a 12-month low of $55.56 and a 12-month high of $94.89.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.96%. AXIS Capital’s payout ratio is currently 24.41%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen lifted their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.25.

About AXIS Capital

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.