AXIS Capital (NYSE:AXS) Posts Earnings Results, Beats Expectations By $0.29 EPS

AXIS Capital (NYSE:AXS) released its earnings results on Wednesday. The insurance provider reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29, Zacks reports. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%.

AXIS Capital Stock Performance

NYSE AXS traded down $0.79 during trading hours on Friday, hitting $91.99. The company’s stock had a trading volume of 22,369 shares, compared to its average volume of 675,156. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $7.69 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. The company’s 50 day simple moving average is $90.05 and its two-hundred day simple moving average is $82.36. AXIS Capital has a 12 month low of $55.56 and a 12 month high of $94.89.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

AXS has been the topic of several recent research reports. TD Cowen raised their price target on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. UBS Group upped their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America increased their target price on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.