Analysts forecast that AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) will report $1.33 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for AXIS Capital’s earnings. The highest sales estimate is $1.34 billion and the lowest is $1.32 billion. AXIS Capital posted sales of $1.27 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that AXIS Capital will report full year sales of $5.36 billion for the current financial year, with estimates ranging from $5.35 billion to $5.36 billion. For the next year, analysts anticipate that the firm will post sales of $5.82 billion, with estimates ranging from $5.80 billion to $5.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for AXIS Capital.
AXIS Capital (NYSE:AXS – Get Rating) last released its earnings results on Wednesday, April 27th. The insurance provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.35. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.92 billion. AXIS Capital had a return on equity of 11.84% and a net margin of 12.09%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS.
Institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of AXIS Capital by 447.2% during the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock worth $30,000 after buying an additional 398 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of AXIS Capital during the first quarter worth approximately $33,000. Atlas Capital Advisors LLC acquired a new position in shares of AXIS Capital during the first quarter worth approximately $93,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of AXIS Capital during the first quarter worth approximately $135,000. Finally, Outfitter Financial LLC acquired a new position in shares of AXIS Capital during the fourth quarter worth approximately $155,000. 93.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE AXS traded up $1.84 during trading hours on Tuesday, hitting $58.37. The stock had a trading volume of 362,700 shares, compared to its average volume of 622,659. The company has a market capitalization of $4.98 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.79 and a beta of 0.90. The firm’s 50-day moving average price is $56.86 and its two-hundred day moving average price is $55.04. AXIS Capital has a 52 week low of $44.49 and a 52 week high of $61.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.59 and a current ratio of 0.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.72 dividend on an annualized basis and a yield of 2.95%. AXIS Capital’s payout ratio is currently 23.92%.
About AXIS Capital (Get Rating)
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, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
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