AXIS Capital Holdings Given Neutral Rating at Zacks (AXS)
AXIS Capital Holdings (NYSE:AXS)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday, AnalystRatings.Net reports. They currently have a $45.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.05% from the stock’s previous close.
Zacks‘ analyst wrote, “AXIS Capital’s second-quarter 2013 earnings per share lagged the Zacks Consensus Estimate as well as the year-ago numbers. Top-line improvement was more than offset by increase in expenses, inducing a year-over-year decline. The Insurance and Reinsurance segment posted a solid premium increase. However, both the underwriting income and combined ratio deteriorated. This was attributable to the brunt of catastrophe activities. Nevertheless, we expect new business generation and platform expansion to aid the company’s top-line growth going forward. Weak interest rate environment might, on the other hand, weigh on the positives in spite of a solid capital position, strong scores with the credit rating agencies, and continued focus on enhancing shareholder value. We thus retain our Neutral recommendation. “
AXIS Capital Holdings (NYSE:AXS) traded down 0.07% on Monday, hitting $43.22. 365,081 shares of the company’s stock traded hands. AXIS Capital Holdings has a 52 week low of $33.65 and a 52 week high of $48.39. The stock has a 50-day moving average of $43.01 and a 200-day moving average of $43.79. The company has a market cap of $4.941 billion and a price-to-earnings ratio of 8.93.
AXIS Capital Holdings (NYSE:AXS) last announced its earnings results on Tuesday, July 30th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.11. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $855.76 million. During the same quarter last year, the company posted $0.90 earnings per share. AXIS Capital Holdings’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that AXIS Capital Holdings will post $4.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, September 27th.
A number of other firms have also recently commented on AXS. Analysts at Nomura reiterated a “neutral” rating on shares of AXIS Capital Holdings (NYSE:AXS) in a research note to investors on Wednesday, July 31st. They now have a $46.00 price target on the stock, down previously from $47.00. Separately, analysts at Merrill Lynch downgraded shares of AXIS Capital Holdings (NYSE:AXS) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 23rd. Finally, analysts at Bank of America Corp. downgraded shares of AXIS Capital Holdings (NYSE:AXS) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 23rd. They now have a $48.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.67.
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (NYSE:AXS)insurance on a worldwide basis, through operating subsidiaries and branch networks based in Bermuda, the United States, Canada, Europe, Australia and Singapore.
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