$0.44 EPS Expected for Axis Capital Holdings Limited (NYSE:AXS) This Quarter

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Wall Street brokerages expect that Axis Capital Holdings Limited (NYSE:AXS) will post $0.44 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Axis Capital’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.35. Axis Capital posted earnings of ($0.39) per share during the same quarter last year, which indicates a positive year over year growth rate of 212.8%. The business is scheduled to report 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 financial year, analysts expect that the firm will post earnings of $4.27 per share, with EPS estimates ranging from $3.85 to $4.91. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Axis Capital.

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

A number of brokerages have weighed in 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. TheStreet raised Axis Capital from a “d+” rating to a “c-” rating in a research report on Friday, August 7th. Finally, Zacks Investment Research raised Axis Capital from a “sell” rating to a “hold” rating and set a $43.00 target price on the stock in a research report on Friday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.40.

In related news, Director Charles A. Davis purchased 200,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The stock was acquired at an average cost of $43.23 per share, for a total transaction of $8,646,000.00. Following the completion of the purchase, the director now owns 42,120 shares in the company, valued at approximately $1,820,847.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles A. Davis purchased 209,328 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $45.89 per share, with a total value of $9,606,061.92. Following the completion of the purchase, the director now owns 42,120 shares of the company’s stock, valued at approximately $1,932,886.80. The disclosure for this purchase can be found here. Insiders bought 2,703,200 shares of company stock worth $120,639,739 in the last ninety days. 2.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its stake in Axis Capital by 11.1% during the second quarter. Macquarie Group Ltd. now owns 197,239 shares of the insurance provider’s stock worth $7,999,000 after purchasing an additional 19,675 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Axis Capital by 15.9% during the first quarter. Two Sigma Advisers LP now owns 90,900 shares of the insurance provider’s stock worth $3,513,000 after purchasing an additional 12,500 shares during the last quarter. Independent Advisor Alliance bought a new stake in Axis Capital during the second quarter worth $236,000. Swiss National Bank lifted its stake in Axis Capital by 15.1% during the second quarter. Swiss National Bank now owns 187,400 shares of the insurance provider’s stock worth $7,601,000 after purchasing an additional 24,600 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Axis Capital by 21.9% during the first quarter. BNP Paribas Arbitrage SA now owns 15,634 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 2,806 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

NYSE AXS traded up $0.56 during trading on Wednesday, reaching $46.11. 702,760 shares of the company’s stock were exchanged, compared to its average volume of 868,475. The business has a 50 day moving average price of $45.29 and a 200-day moving average price of $41.77. The stock has a market capitalization of $3.89 billion, a P/E ratio of -69.86, a PEG ratio of 23.63 and a beta of 0.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.59 and a quick ratio of 0.59. Axis Capital has a fifty-two week low of $31.82 and a fifty-two week high of $67.51.

About Axis Capital

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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