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

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

AXIS Capital Trading Down 0.6 %

Shares of NYSE:AXS traded down $0.57 during mid-day trading on Wednesday, hitting $89.88. The company had a trading volume of 1,220,674 shares, compared to its average volume of 701,523. 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 capitalization of $7.52 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. The firm has a fifty day moving average price of $89.89 and a 200 day moving average price of $82.24. AXIS Capital has a one year low of $55.56 and a one year high of $94.89.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 1.96%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s payout ratio is 24.41%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXS. Wells Fargo & Company reduced their price objective on 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. TD Cowen upped their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Bank of America lifted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $108.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of AXIS Capital in a research note 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average 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.