Buckingham Research upgraded shares of Axis Capital (NYSE:AXS) from a neutral rating to a buy rating in a report published on Friday morning, BenzingaRatingsTable reports. Buckingham Research currently has $70.00 price target on the insurance provider’s stock, up from their prior price target of $60.00.
A number of other brokerages have also commented on AXS. TheStreet upgraded shares of Viacom from a c+ rating to a b- rating in a report on Wednesday, April 24th. UBS Group lowered shares of AGL Energy to a sell rating in a report on Thursday, May 23rd. ValuEngine lowered shares of Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. Morgan Stanley set a $10.00 price objective on shares of Ford Motor and gave the stock a hold rating in a report on Friday, April 26th. Finally, Zacks Investment Research lowered shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $64.00.
Shares of NYSE AXS opened at $59.91 on Friday. The stock’s fifty day moving average price is $60.17. The company has a market capitalization of $5.03 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.35. Axis Capital has a twelve month low of $48.27 and a twelve month high of $61.58. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.
Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.16). Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. As a group, analysts forecast that Axis Capital will post 4.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.40 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 2.67%. Axis Capital’s payout ratio is currently 83.33%.
A number of hedge funds have recently modified their holdings of AXS. AdvisorNet Financial Inc acquired a new stake in Axis Capital in the 2nd quarter valued at $25,000. Advisory Services Network LLC acquired a new stake in Axis Capital in the 1st quarter valued at $37,000. Icon Wealth Partners LLC acquired a new stake in Axis Capital in the 1st quarter valued at $38,000. Marshall Wace LLP increased its stake in Axis Capital by 1,488.4% in the 1st quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock valued at $172,000 after buying an additional 2,947 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Axis Capital in the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.
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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